|
|
Article: Petrol to hit [pounds sterling]1 a litre as oil price rises .
- Article from:
- The Evening Standard (London, England)
- Article date:
- August 25, 2005
CopyrightCOPYRIGHT 2005 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
PETROL prices of [pounds sterling]1 a litre have moved a step closer after oil prices hit a record new high.
Crude oil reached $68 a barrel following unrest in several oilproducing nations and China's everincreasing demand. China has released figures showing a 15 per cent year-onyear increase on the amount of crude it imports to run its booming economy, and experts say its thirst for oil can only grow.
Yesterday's price increase came despite the US government filling up its reserves and releasing more oil into the market. But while the US has increased its stocks of crude oil, it has lower stockpiles of gasoline.
Disruption in countries such as ...