Home Business News Pump prices increase over Iran tensions

Pump prices increase over Iran tensions

by LLB Reporter
7th Jan 20 2:16 pm

According to the RAC fuel prices at the pumps are rising over the growing escalation of tensions between Washington and Tehran.

Simon Williams from the RAC said, “Prices at the pump have already increased by about a penny a litre.” Currently diesel costs £1.32 per litre while petrol currently costs £1.27.

Michael Haigh, head of commodities research at Societe Generale said, “A political leader killed on 3 January should not theoretically affect what you pay at the pump.”

However, Haigh warned, “If oil prices go up to $80, $90, or $100 a barrel, everyone is to going feel it at the pump.”

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