Fuel prices begin to rise again

MOTORISTS are being warned that petrol prices are rising – bringing to an end one of the longest periods of cheap fuel for years.

Prices at forecourts in Jersey dropped to their lowest level in years in February when the global price of crude oil fell to a ten-year low following a price war between Saudi Arabia, Russia and other oil producers.

And although local prices are still currently low – 89.5p per litre at the Island’s cheapest forecourt – suppliers have warned that they are starting to rise.

The warning comes after the global cost of oil reached $40 (£28) a barrel for the first time since early December - as a result, the cost of petrol in the UK rose last month for the first time since July 2015, with the average price per litre now 105p.

 

Subscribe to our Newsletter

Subscribe to our mailing list

* indicates required

Comments for: "Fuel prices begin to rise again"

CADDYSHACK....this looks like it could be gravy

IRAN about to be pumping 4 million barrels a day into a full market, but our prices go up. isn't it great that CICRA got us such a great deal with the fuelfarm contract.......NOT.

JonBest

It's a real shame that CICRA failed to act on the fuel farm contract. In my opinion, this has proven that they are unable to act fairly and transparently.

Oldwoman

It's not all the governments fault their just incompetent ,out of their depth,and rudderless. We should put them and us out of this misery an call for a immediate election.

Phil Wells

Gas prices haven't gone down this year despite oil being at its lowest price for years but I bet it will soon start to go up!

Steve-o

When oil was last at 40 dollars a barrel years ago... petrol was 56 p a litre... time and duty have marched on .... but is well overpriced at the moment... when the price of a barrel of oil drops it is often claimed by the petrol companies to be a small part of the price... but when it rises wow that argument is quickly dropped

Mr Sensible

No doubt we will get the moaning taxi drivers wanting to put their fares up, notice they did not go down when the price of petrol fell over the last 12 months