New record high pump prices for petrol and diesel are almost certain to be set before the end of the month, according to PRA chairman Brian Madderson.
The average price of a litre of petrol sold on UK forecourts has reached its highest level since September 2012 - 140.22p - reports RAC Fuel Watch.
PRA chairman Brian Madderson has warned government and media that rising wholesale prices of both petrol and diesel will feed through to the forecourts much more quickly than usual because of the recent fuel crisis.
The health of the European refined products market is steadily improving as vaccine roll-outs continue to gather pace and demand slowly returns, but plenty of hurdles remain before the industry can breathe a sigh of relief.
Low refinery runs and firm export demand have tightened European road fuel supply this winter, even as strict Covid-19 travel restrictions returned. European refineries responded to the return of Covid restrictions by slashing runs on an unprecedented level.
Fuel prices - January 2021
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