Petrol prices may rise again

• Threat of conflict raises oil price fears
• Turkish attack on Kurds will disrupt supply
• Price hike will follow four to six weeks later

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Fears of Turkish military action in Iraq are driving up oil prices – and that could lead to the price of a litre of petrol rising again.

Prices in many regions hit the £1 a litre mark this month when the Government imposed a 2p a litre tax increase.

Now prices are set to rise again if suppliers are affected by a threatened military strike by Turkish forces in response to attacks from Kurdish PKK rebels from Iraq.

The AA says that current national average fuel prices are 97.7p a litre for unleaded petrol and 99.8p a litre for diesel, but has warned that these figures are skewed by heavily discounted supermarket prices.

It usually takes between four and six weeks for any crude oil price rise to reach the forecourts.

Oil prices are currently at a record high of $89 (£43.53) a barrel.