Friday, November 02, 2007

UK - Refinery blast hits petrol prices

Fuel prices are set to rise above £1 per litre

Petrol prises are set to rise as a reaction to the fire at the Petroplus depot on Wednesday a number of papers have reported [Daily Telegraph / The Sun].

"This might be what virtually guarantees £1-a-litre," said Paul Watters, spokesman for the Automobile Association. "It’s absolutely the last thing we need at the moment and it’s bound to increase the price of petrol."

Bloomberg later reported fuel rises across northern Europe. Spot gasoline for immediate loading in Amsterdam-Rotterdam- Antwerp jumped $45 to $842 a metric ton at 12:26 p.m. in London, the highest since September, 2005, according to data compiled by Bloomberg. The cause for the blast which has affected markets is still under investigation. However, a manager at the plant said it started after a leak of petroleum gas ignited [BBC].

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