Petrol price latest: AA find pump prices at new record high as oil surges | City & Business | Finance
“As a result drivers in the UK could be in for an even worse ride as pump prices look certain to go up even more.”
Oil prices reached £70.12 ($94.76) a barrel for Brent Crude today with speculation oil will soon pass the $100 threshold.
Victoria Scholar, Head of Investment at interactive investor, predicted: “An invasion of Ukraine would likely push oil prices sharply higher, beyond $100 at a time when the market is already in rally mode driven by an imbalance between demand and supply.”
The RAC noted that retailer margins made on petrol sales had improved in recent months, returning to normal levels of around 7p a litre.
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