5p-a-litre fuel rise coming?

* Oil producers meeting * Cut in oil production expected * Fuel costs will rise as a result...

Author Avatar
What Car? Staff
24 Oct 2008 11:00 | Last updated: 14 Jun 2018 00:03

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.

0