Britain's petrol prices hit new high

March 7, 2012 9:04 am 

LONDON, March 7 — Petrol prices in Britain have hit a record high on Monday, according to official data released on Tuesday.

The British Department of Energy and Climate Change (DECC) said the average price of unleaded petrol in Britain reached 137.3 pence per liter on Monday, 1.1 pence higher than the week before.

This surpassed the previous record high of 137.05 pence per liter back in May 2011. It then fell to 132.25 pence a liter at the turn of the year before climbing to the new peak of 137.44 pence a liter on March 2 this year.

Meanwhile, government data also showed the average diesel price peaked at 144.7 pence a liter, up by 0.8 pence from a previous record set last week.

The diesel price increase was influenced by refinery closures, unreliable supply into Europe, and stock market speculators taking advantage of a tight market, said local analysts.

The current high crude oil prices on international market have also helped boosted petrol prices.

The futures price of Brent crude has stayed high lately, hitting a 43-month high at 228.40 U.S. dollars per barrel on March 1. (PNA/Xinhua)



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