petrol could hit £2 a litre

[ellie1998]

Hope not

Petrol prices 'may hit £2 at pumps' - Yahoo! News UK

Petrol prices could soar to £2 a litre if the instability in Libya and neighbouring countries escalates, a Government minister has warned. Skip related content

Alan Duncan, a former oil trader, suggested the price of crude could top 200 dollars a barrel - significantly above the current record of 147 dollars a barrel from July 2008.

In a worst-case scenario where terrorists exploit the turmoil in the Gulf to bomb tankers and reserves, the price could even nudge 250 dollars, which would leave UK motorists paying some £2.03 at the pumps.

The dire warning, in an interview with The Times, came as the situation in Libya appeared to be worsening.

Rebels and government forces have clashed near a key oil terminal and forces loyal to Muammar Gaddafi have attacked a town near Tripoli.

"I've been saying in Government for two months that if this does go wrong, £1.30 at the pump could look like a luxury," Mr Duncan said. "USD200 is on the cards if... anyone is reckless and foments unrest."

The international development minister added: "It could be very serious. If crude oil doubles, you're going to have a serious spike (in petrol prices). Try living without it for a week."

Interpol has issued a worldwide alert against Gaddafi and 15 of his close associates, as the international community continues to ratchet up the pressure on the dictator. The international police agency's "orange notice" describes the regime figures as individuals who have been identified "as being involved in or complicit in planning attacks, including aerial bombardments, on civilian populations".

They include seven of his sons, among them Saif, and his daughter Aisha, as well the defence minister, the head of external security, the director of military intelligence and Gaddafi's head bodyguard.

The Ministry of Defence has confirmed that British troops are on stand-by for deployment to Libya but stressed that the troops are prepared to assist with humanitarian and evacuation operations, not combat.

 

[K]

if it hits that price.. ill garentee my car wont leave the drive and wont be insured..

Oh look that new law is coming into force.. where we have to insure a car even if it has a sworn.. twats

 

[unnamed1975]

another joke for rip off britan

 

[little_pob]

another joke for rip off britan

If it's £2 in Britain it'll be approx €2.30 in Europe (assuming that Stirling doesn't crash). Contrary to what the press would have you believe, we don't actually have the highest fuel prices in the EU: Europe's Energy Portal » Natural Gas Prices, Electricity Rates, Diesel & Unleaded Fuel Costs

I'm not saying that £2 a litre isn't expensive (£9.09 a gallon!), just that it's not only the UK that will suffer this price increase "locally"...

However, for a more global comparison, and assuming my maths is correct, the average petrol in Australia costs £0.87/l, USA is £0.44/l, Canada is £0.76/l

 

[janobi]

I have no problem with prices going up but drop the tax on the petrol itself. Nearly 90p of every litre is tax. So where is this money going as it's not making the economy better! Bring on the riots and boycotts I say. Viva la France 

 

[Shield10]

it not just the petrol that will go up
so will everything from food to paint to the cost of a job being done at your house, electric gas.

the charge on delivery to shops will send the price of food up.
and you know who going to suffer, yes the working hard to feed there family mum and dad.

 

[FiGgY132]

The fact that fuel companies still make huge profits just about every year says it all, we're ripped off regardless of what country we live in-maybe it's time these companies start shouldering some of these cost rises(VAT, cost of crude oil, etc) and tbh I think other companies(retail, food, services) just jump on the bandwagon and put their prices up and hide behind the duty increases. Example I used to buy a bottle of juice, cost before VAT rise, 99p cost after, £1.05 - challenged the shopkeeper about the price and the reply? The VAT increase. Ffs I can add 2.5% onto 99p but don't end up at £1.05 lmao - I think in 2000 there were blockades at oil/petrol refineries when the price went to approx 78p per litre......

 

[MH]

The oil companys need to make the huge profits so they can reinvest it into finding new wells.

No profits
No new wells
No oil
No transport
No economy

.............Mad Max

 

[The Dentist]

I thougt we got our oil from the saudis and iraq and afghanistan. where did libya come into this?

 

[ekwat]

The tax on fuel is hideous but if we drop the tax on fuel we have to pay it somewhere else. Fuel in the US is cheap but healthcare costs are hideous.

/if we have cheap fuel we will have more expensive healthcare, council tax etc

 

[janobi]

The fact that fuel companies still make huge profits just about every year says it all, we're ripped off regardless of what country we live in-maybe it's time these companies start shouldering some of these cost rises(VAT, cost of crude oil, etc) and tbh I think other companies(retail, food, services) just jump on the bandwagon and put their prices up and hide behind the duty increases. Example I used to buy a bottle of juice, cost before VAT rise, 99p cost after, £1.05 - challenged the shopkeeper about the price and the reply? The VAT increase. Ffs I can add 2.5% onto 99p but don't end up at £1.05 lmao - I think in 2000 there were blockades at oil/petrol refineries when the price went to approx 78p per litre......

Oil companies make very little compared to the amount they produce. Its the tax thats killing this country.

 

[ekwat]

Oil companies make very little compared to the amount they produce. Its the tax thats killing this country.

Oil companies make plenty, the garages that sell the stuff make very little.