PETROL prices look set to rise high in 2017, the Petrol Retailers Association warns.
The PRA says Brent Crude has already risen to over USD57/barrel and a rise to USD60/barrel appears likely. Meanwhile the pound is expected to weaken further and together these will hit wholesale costs and pump prices with the range 125 – 128ppl possible on forecourts across the UK by mid-2017.
This represents a 25 – 30% increase in just 18 months and would impact inflation and living costs, the PRA says.
