Motorists warned to top up now ahead of petrol price hikes this weekend that could affect millions

The AA is urging drivers to act now ahead of Saturday, when it estimated a wave of increases to kick in.

Petrol prices could soar by 2p a litre this weekend as tensions over the Middle East escalate, experts have warned- writes theuk.one

And further rises of up to 5.5p a litre are around the corner as wholesales prices have rocketed by 4p a litre in less than four weeks.

On Thursday, oil prices were at a three and a half year high of almost $72 a barrel sparking fears that motorists will be hammered 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 leap from 123.61p to 125.61p by Saturday.

And industry body the Petrol Retailers Association (PRA) said a 4p per litre rise in wholesale costs will filter through to the forecourts.

PRA chairman Brian Madderson said: “President Trump’s promise that US missiles ‘will be coming’ to Syria caused 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 alone to the highest prices seen since December 2014.”

The AA added: “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.”

And worldwide supplies are also down as the oil rich OPEC nations ((Organization of the Petroleum Exporting Countries) revealed the glut was dwindling following high demand and a drop in production in Venezuela as well as blips in Libya and Angola.

OPEC Secretary-General Mohammad Barkindo said: “We have seen an accelerated shrinkage of stocks in storage from unparalleled highs of about 400 million barrels to about 43 million above the five-year average.”

Analysts say the Middle East crisis could keep oil above $70 a barrel until May but expected prices to come back down over the summer.

How you can save on fuel all year round

Fill up at busy petrol stations -These stations buy more fuel and can take advantage of falling prices. “The big petrol stations have deliveries every day so they can change the price,” Arthur Renshaw, of petrol station analyst Catalist Experian, toldThe Mirror. “But a small petrol station in a village may have a delivery every couple of weeks.”

Choose a big station -Stations buy their fuel on the wholesale market. Just as in any other negotiation, the big buyers are better able to strike a deal.

Look for a cluster of stations -When several stations are close together, they are more likely to cut prices to tempt drivers in. “If you are in the Highlands and Islands of Scotland, you have much less competition than in the centre of Manchester,” said Renshaw.

Do your research -The website PetrolPrices.com allows you to compare prices in your area. It also lists the latest average prices, so you know if you’re being ripped off.

Play the supermarket game -Supermarkets are competing on fuel prices along with everything else. When you’re shopping, keep an eye out for vouchers offering petrol discounts. But be aware of the overall cost. “That is one way to get prices down below £1, but you do need to buy a lot of food to get that result,” PetrolPrices.com owner Peter Zaborszky said.

Stop by provincial towns -Airports, motorways, expensive cities and rural areas have the highest charges, according to PetrolPrices.com analysis. “The golden path is down the middle where rent is cheap,” Zaborszky explained.

Read more news of London on our site.

theuk.one
petrolprice
If you notice an error, highlight the text you want and press Ctrl + Enter to report it to the editor
5 views in august
I recommend
No recommendations yet

Comments

Comments are designed to communicate and discuss the features of an enterprise or event, as well as to find out the interesting questions on it.

Incidents
A man has been charged with the murder of a nurse who appeared on Britain's Got Talent in an NHS choir. Simonne Samantha Kerr, 31, from Wembley, was found fatally injured in a house in Grayshott Road, Battersea, on Wednesday - writes  bbc.com She was treated by paramedics but pronounced dead at the scene. Desmond Sylva, 40, of Grayshott Road, will appear in Wimbledon Magistrates' Court on Friday. Police are not looking for anyone else over Ms Kerr's death....
Society
A maths teacher has been showing off her artistic skills by decorating rocks with incredible miniature versions of book covers. Ella Dickson, 39, spends up to an hour painting covers of books like Harry Potter and the Philosopher’s Stone, Northern Lights and Matilda on rocks. She posts her intricate creations on a local Facebook page before hiding them near her local library for kids to find, photograph and then often re-hide. Mum-of-two Ella is part of th...
Incidents
A doctor who worked as a physician to Britain’s Queen Elizabeth has been killed after colliding with a truck as he cycled through central London. Peter Fisher, 67, was riding through the High Holborn area on Wednesday morning when the collision occurred. Police said he had died at the scene. “We are all deeply shocked and saddened to learn that Dr Peter Fisher tragically died in a road traffic accident yesterday,” Gill Gaskin, medical director at Universit...
Society
Students collecting results from their school in the shadow of Grenfell Tower said they were proud to be bringing a sense of hope back to the community. Safety concerns forced Kensington Aldridge Academy to move to portable classrooms after the fire in June last year. Four of the school’s pupils and one former student were among the 72 killed. Students were given the choice to sit the exams in the original building or in the temporary classrooms. Many retu...
Society
A former refugee who stood outside Canary Wharf station with a sign pleading for work says he is "overwhelmed" after a tweet showing him standing with his sign went viral. 22-year-old Mohamed Elbarkey sayshis self-promotional stunt has earned him some promising job leads, including interviews at places he would "love to work at." Mr Elbarkey came to the UK with his family as a refugee from Libya and graduated with a 2:1 in Aerospace Engineering from Southa...
Society
In a UK first, shoppers in south London can now buy groceries in Sainsbury’s without going to the checkout or self-service scanner. By simply using their smart phone, shoppers can skip the queue altogether and buy products by scanning what they need themselves - writes standard.co.uk The supermarket chain is trialling new scan, pay and go technology in its Clapham North branch. The trial is thought to be the first of its kind not just in London, but the wh...
Crime
Four men have been stabbed and six have been arrested following an incident in Camberwell. Officers were called to playing fields outside Landor House at 5.24pm following reports of a stabbing. According to a Scotland Yard spokesperson, the four men, all believed to be in their teens,"have all been taken to south London hospitals." "Six males have been arrested in connection with the incident." Police remain at the scene. The condition of the four men is n...
Society
A dance festival for 10,000 revellers in a south London park has been refused a licence after complaints from couples that the event would “spoil” their weddings nearby - writes standard.co.uk Diynamic Festival was set to take place in Morden Park on September 8. Tickets were already sold for the event, which boasts a line-up of house and techno DJs including Solomun and Adriatique across two stages. But Merton council rejected a licence application for it...
Society
He made the promise as the government announced £10m to improve security and conditions at certain jails. New body scanners and sniffer dogs are to be introduced in 10 of England's most "challenging" prisons as part of a clampdown on drugs and mobile phones. The dogs have been trained to detect psychoactive substances such as Spice. Ministers also want to raise standards of leadership by sending prison governors to military-style colleges. And there will b...