Drivers’ misery over oil rise

DRIVERS face bank holiday misery at the petrol pumps due to a rise in oil prices.

The price of Brent crude climbed 1.4pc after Saudi Arabia energy minister Khalid Al-Falih said that oil cartel Opec will keep limits on the amount of crude produced.

Reduced supply means that prices go up as buyers are forced to outbid each other.

Oil prices rose to more than $73 a barrel after the comments.

Simon Williams of the RAC warned this will push the cost of filling up an average 55-litre family car to over £72.

Williams said that petrol prices are likely to rise by 2p a litre over the next couple of weeks, taking them to around £1.31 – and back to a five-year high that was hit in October.

He added: ‘We’re already seeing an increase in the wholesale price of fuel because the price of oil has gone up and retailers are passing this on to customers on the forecourts.’