Friday, 1 September 2017

UK petrol prices could jump after Hurricane Harvey

The RAC has warned that as a result of the disruption caused by Hurricane Harvey in the US, Over the next few days we may see the price of unleaded petrol rise by up to 4p per litre.

Hurricane Harvey has left a 1/4 of America's oil refining capacity offline. This has meant that the US demand for petrol imports has jumped, which has in turn driven up prices.

RAC spokesman Pete Williams said this was now affecting UK forecourts.

"The average price of a litre of unleaded petrol on Thursday 31 August was 117.29p and diesel was 118.14p," he said.

"But we could see unleaded rise in the coming days to around 121p a litre, with diesel likely to stay stable around 118.5p."

He added: "This will be the first time unleaded has been higher than diesel since June 2016 and we expect this to be the case for some time to come - or at least until the US oil industry is able to get refineries back into operation."

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