French blockade triggers UK petrol price hike
Petrol prices in the UK are set to soar to a new record high thanks to the French blockade that has increased wholesale prices across the continent.
The RAC warned consumers yesterday that soaring oil prices, allied with a 1p increase in fuel duty, could see the cost of fuel breach the 121.61p record set in May this year.
The French have been forced to import fuel after a month-long blockade at the docks in Marseilles by disgruntled workers. The rise in demand has helped the price of oil climb by $10 a barrel.
According to the RAC, British motorists could be about to see the cost of unleaded hit 124p – a staggering increase considering the recent low of 85.98p was only recorded in January of last year.
With no end in sight for the blockade, a rise in prices on the forecourt seems inevitable. Even if the cost of a litre of fuel doesn't break the record before Christmas, the forthcoming VAT hike will almost certainly guarantee it does in the New Year.