Red diesel prices climb

RED DIESEL prices have started to climb on the back of continued unrest in Iraq, political interference in the Russian oil industry and increased global demand.
 
Nick Adamson of independent Oxon-based fuel dealer Ackerman and Niece said red diesel was now 24p/litre.

The only time that it had been higher was during the fuel blockades of September 2000, he added.
 
“There is a lot of panic on world oil markets. A lot of people are speculating in the market place and there is also a lot of stockpiling going on.”
 
John Ringwood of nationwide supply co-op ACT said the price in some areas had topped 25p/litre. “Prices have been going up almost everyday for the last fortnight.
 
“At least the Chancellor had backed off from duty increases in September that would have increased the price by 10% overnight,” he added.
 
Oil prices have risen by almost a third this year, and both Mr Adamson and Mr Ringwood expected prices to continue rising.

“The sooner you buy the more you‘ll save,” said Mr Ringwood.