Diesel price protest hits London

Tuesday, April 29, 2008

Hauliers and farmers take action
Want to show effects of price hikes
Meanwhile, oil firms announce record profits

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Hauliers and farmers are to stage a protest in central London tomorrow about the high cost of diesel.

The action is supported by Unite, the union that instigated the 48-hour strike at the Ineos refinery at Grangemouth, which ended last night.

Lorries will travel in convoys to Marble Arch in central London.

One vehicle contains a coffin, which is intended to represent the demise of the UK road haulage industry as a result of diesel price hikes.

Diesel prices have risen by 30% over the last 12 months and by 16.2p a litre since the start of the year.

According to the AA, the average price of a litre of unleaded petrol is now 109.8p, with diesel at a record 119.8p a litre.

Shell and BP profits
Meanwhile, Royal Dutch Shell and BP, Europe's two largest oil companies, have announced a jump in first-quarter profits thanks to record crude oil prices and higher natural gas prices.

Shell's first quarter profits rose by 12% from last year's £3.5bn to £3.9bn, while BP's profit soared to £3.3bn from £2.2bn in the same period - a 49% rise.