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.
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