Petrol Prices to Rise Over Weekend- Top Up Now!
- Price hikes expected on Saturday and Sunday
- Rise due to tensions in the Middle East
- Oil prices already at a three year high
Petrol prices are expected to rise by at least 2p per litre this weekend.
Experts have warned that growing tensions over the Middle East will push costs up, with further rises in the future likely.
Next week, prices are expected to rise by up to 5.5p a litres, as wholesale prices have rocketed by 4p a litre in less than four weeks.
On Thursday, oil prices reached a three and a half year high of almost $72 USD a barrel, leading to fears that motorists will be hit hard at the pumps.
The AA is urging drivers to fill up ahead of the weekend, as prices for unleaded could rise from 121p per litre to 123p, and diesel rise from 123.61, to 125.61 by Saturday.
A spokesperson for the AA said, “There’s a lot of concern about missile strikes, and if there is a possibility that markets will be disrupted then speculators will send the price even higher.”
The Petrol Retailers Association, PRA, said a 4p litre rise in wholesale costs will be paid for by consumers.
Brian Madderson, PRA chairman, said, “President Trump’s promise that US missiles will be coming to Syria is a cause of the price to climb sharply amid a volley of threats between the US and Russia and an attempted Houthi air strike from Yemen targeting oil titan Saudi Arabia.
“The Houthi attacks on the world’s largest oil producer spurred global oil markets up almost 9% this week along, to the highest prices seen since December 2014.”
How can you save on petrol prices?
Fill up at a big station- these will buy more fuel and can take advantage of falling prices, whereas a small one in a local village may only get a delivery every few weeks. The bigger the station the more fuel they will buy, so they will also have better negotiating power to get a good deal.
Look for grouped stations- when a cluster of stations are close together, they are more likely to cut costs to tempt drivers in by offering the best price.
Research- price comparison websites let you compare prices in your area, and lists the latest average prices so you can see if you’re being ripped off.
Check supermarkets- supermarkets can offer competitive deals on fuel. When you’re shopping, keep an eye out for any vouchers or petrol discounts.