Fleet News

Summer pump prices set to soar

FUEL prices are set to rise by 13.6p-22.7p a gallon (3p-5p a litre) over the summer as oil companies look to cash in on the annual surge in fine weather motoring, it was claimed this week.

The steady increase in the price of crude oil has been halted with the OPEC countries' decision to increase production. However, the impact of that decision will take time to be reflected in pump prices and, in the meantime, the 'northern hemisphere motoring season is just beginning, according to PHH Vehicle Management's director of fuel, Keith Greenhead.

'This will inevitably lead to a sharp increase in demand, as motorists in Europe and the USA begin to travel more,' said Greenhead. 'Increased demand will see prices go up, and I would typically expect rises of between 3p-5p a litre by the middle of the summer.'

PHH's latest monthly national fuel price report based on pump prices in 41 towns and cities across the UK reveals: unleaded - highest, Oban 81.68p a litre/371.3p a gallon; lowest, Stoke on Trent 77.78p/353.58p. Diesel - highest, Dover 82.53p/375.17p; lowest - Stoke on Trent 79.41p/361p.

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