{"id":110074,"title":"UK Drivers ‘in for a hard time’ if oil hits $100, warns RAC","publisher":"Share Talk","author":"sharetalk","published":"2023-09-19T13:36:56+00:00","modified":"2023-09-19T13:42:05+00:00","canonical_url":"https://www.share-talk.com/uk-drivers-in-for-a-hard-time-if-oil-hits-100-warns-rac/","markdown_url":"https://www.share-talk.com/uk-drivers-in-for-a-hard-time-if-oil-hits-100-warns-rac.md","json_url":"https://www.share-talk.com/uk-drivers-in-for-a-hard-time-if-oil-hits-100-warns-rac.json","category":"Blogs","categories":["Blogs","Energy","Technology","Technology, Media & Telecoms"],"tags":["china","City of London","drivers","fuel prices","litre of petrol","petrol","RAC","Russia","Saudi Arabia","UK"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1","format":"news","language":"en-GB","content":"Drivers are being alerted about increasing fuel prices as the price of oil nears $100 per barrel.\n\nThe RAC states that drivers will face challenges at the fuel stations due to growing demand in China and reduced production by Saudi Arabia and Russia, leading to a surge in prices.\n\nSince the start of August, the average price for a litre of petrol has climbed by 10p, reaching 155.5p, the highest since the previous December.\n\nThe RAC suggests that prices might reach 160p because retailers are keen on boosting their profit margins per litre.\n\nSimon Williams, a fuel representative, commented that current fuel prices at stations are inflated as retailers are enjoying larger-than-usual profit margins.\n\nHe mentioned, “If oil reaches $100, the average petrol price should ideally only increase by an additional 2p.”"}