Brexit set to drive up fuel prices

Wednesday, June 29th, 2016 - autos, cars, motoring, news

Source : Brexit set to drive up fuel prices

Petrol prices volatility of the pound sterling after the EU referendum which could cause fuel prices to rise, warns RAC

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British motorists due to we see an increase in fuel prices inside wake of Brexit, according to a spokesman coming from the RAC.

with the value of the pound sterling after This particular fell sharply after the result of the referendum of the European Union, RAC claims of fuel prices could rise by 2P per liter inside coming days.

Simon Williams, a spokesman for the RAC fuel rein initial expectations, more negative than predicted a sharp rise in petrol along with diesel prices. However, keep predict which fuel prices will rise, albeit less sharply: “As This particular is actually, we may also see the courtyard prices rise by a penny or two coming from the current average prices for both gasoline along with diesel 112p per liter, however we remember which last year was the cost of a liter of unleaded gasoline more expensive 5P was diesel 9P love. “

” No doubt there will be more volatility inside coming weeks, however for the time being at least motorists should not see have an impact on the cost of filling up. “

Williams explained which while the exchange rate is actually an important factor in determining the cost of fuel at the pumps,” associated in crude oil prices fall due fears of weakening global demand has softened the impact of the fuel wholesale prices. the cost of a barrel has remained constant, the pound fell caused wholesale prices to rise sharply, “

cost of a barrel of crude oil hit $ 50 at the beginning of June 2016; the highest This particular’s been since the autumn of last year, slipped to $ 49 in time for the referendum, along with fell again to the bottom of $ 46 a week after the vote. Williams said This particular has reduced the impact on the cost of fuel, which may otherwise have risen even more sharply.

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automakers her before along with Add -referendum, however industry experts are already expecting decline in brand new car sales as a result of the outcome.

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