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Petrol to hit £1 a litre within weeks as oil supply strains show |
| Home | (The Guardian) - Petrol prices were on course last night to break the pound-a-litre barrier after the cost of crude oil on global markets rose to its highest level this year. With the US navy putting on a show of strength off the Iranian coast and oil workers in Nigeria launching an indefinite strike, a barrel of Brent crude was trading for almost $72 last night - up more than a dollar on the day and within six dollars of last summer's record $78.40. Industry experts in the UK said motorists - already paying an average 97p a litre on forecourts - could expect to be paying £1 or more within six weeks. |