Alaska oil leaks will push petrol to £6 a gallon

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The Trans-Alaska Pipeline System was forced to shut down after a leak was discovered over the weekend.  The company did state that there is no threat to the environment because the leak has been stopped.

Any kind of oil spill is not a good thing for the world market because it will just raise the price of oil.  With this disruption of a major source of oil has sent Brent Crude futures up 2.5% which makes it $95.50 a barrel in London.  £6 a gallon is unheard of for Petrol but is a likelyhood very soon, some experts say.

If the average price per litre hits 132p that will be equal to £6 a gallon for petrol.  The average price at the pumps yesterday according to petrolprices.com, which monitors garages all over Britain, was 127.7p for a litre of unleaded and 132.0p for diesel.

Britain has nearly 400 forecourts charging 130p a litre for unleaded, there are even a few selling it for 140p a litre.  With the steady increase in prices since the start of the year, the hauliers are preparing for a possible blockade in protest.  Everyone needs oil for their transportation; raising prices do not help people out financially.

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