Commenting on increasing wholesale prices of petrol and diesel, Gordon Balmer, Executive Director of the Petrol Retailers Association, said:
“The conflict in the Middle East has increased the wholesale cost of petrol and diesel, which will mean pump prices will have to go up. Rising fuel prices hurt the economy in the form of higher inflation, impacting already hard-pressed household budgets. To help motorists and businesses, I am today writing to the Chancellor urging her to abandon the planned fuel duty increases.”
NOTES TO EDITORS – Brent crude, the international benchmark, tipped back above $80 a barrel overnight, and some analysts have warned that prices could hit $100 if the conflict drags on.