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17/04/2009
Petrol Prices Soar - Again
Adding to recessionary financial pressures, it has also been revealed that petrol prices in Northern Ireland are currently the most expensive in the UK.
According to the AA, the price of petrol on Ulster's forecourts now averages 96.4p.
Petrol costs at the pumps have soared in recent weeks due to a Government fuel duty increase and a rise in the price of oil worldwide.
AA President Edmund King said: "It is not clear whether it is the stock markets or the oil industry trying to pump up the value of oil.
"However, with laden tankers moored off-shore as temporary storage indicating major stock surpluses, there is growing concern that the fundamentals of supply and demand are not being reflected in prices.
"This means motorists will cut back on other spending in leisure and the high street, undermining economic recovery," he concluded.
Mr King also expressed his hopes of good news for motorists in next week's annual Budget.
(BMcC)
According to the AA, the price of petrol on Ulster's forecourts now averages 96.4p.
Petrol costs at the pumps have soared in recent weeks due to a Government fuel duty increase and a rise in the price of oil worldwide.
AA President Edmund King said: "It is not clear whether it is the stock markets or the oil industry trying to pump up the value of oil.
"However, with laden tankers moored off-shore as temporary storage indicating major stock surpluses, there is growing concern that the fundamentals of supply and demand are not being reflected in prices.
"This means motorists will cut back on other spending in leisure and the high street, undermining economic recovery," he concluded.
Mr King also expressed his hopes of good news for motorists in next week's annual Budget.
(BMcC)
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Northern Ireland WeatherToday:A cloudy morning with some outbreaks of rain, some on the heavy side. Then turning brighter in afternoon with sunny intervals and more isolated showers. Fresh southeatserly winds. Maximum temperature 14 °C.Tonight:A dry evening with some sunshine to end the day, then staying dry overnight with some clear periods. Winds easing. Minimum temperature 6 °C.
