Fuel prices hit 18-month high, after OPEC production cuts
Originally published on January 05, 2017
The BBC has this reported that fuel prices are at an 18 month high, with prices rising 3p per litre in December 2016 alone.
It is believed that the steep price increase is due to cost of Brent Crude oil rising by 10% on the day the OPEC and Non-OPEC members agreed to cut oil production. This has resulted in experts predicting that prices over the next few weeks increasing to 118p for unleaded fuel and 121p a litre for diesel.
With the current political unrest, the introduction of Donald Trump and Brexit negotiations still underway, fuel prices could rise even further. If your business is looking to manage its fuel cost as effectively as possible, a fuel card from Fuelmate could help. The Fleetmate Fuel Card deal gives you access to over 7000 sites UK wide and the price you pay will be fixed at sites across all networks. We offer a free, no obligation fuel analysis of your business which will make sure you are getting the best deal possible.
If you would like further information about Fuelmate’s extensive range of Fuel Cards, give the team a call on 0800 158 3582