5p-a-litre fuel rise coming?

  • Oil producers meeting
  • Cut in oil production expected
  • Fuel costs will rise as a result
Just as we thought it was safe to celebrate falling fuel prices, we could be facing a 5p-a-litre price rise by Christmas.

The increase is expected if members of the oil production cartel OPEC go ahead with a threat to cut supply following a meeting in Vienna today.

OPEC is made up of 12 countries, and it wants a cut in production to force up the price of crude oil, which has fallen from a record high of $147 a barrel in the summer to around $65.

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