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Motorists to face £6 a gallon at the pump
Thursday, 17 March 2011
The soaring cost of oil due to the unrest in Libya is set to hit UK motorists further with many petrol stations across the country now charging £6 a gallon.
The price is only likely to rise with the continuing leadership crisis in Libya. Industry experts predict that motorists will pay as much as 10 pence per litre more after Easter, with the Government also set to raise fuel duty.
It is quite possible that the cost of oil will reach its highest level since August 2008 – the height of the global recession.
Paul Watters of the AA, said: “Drivers are going to have to brace themselves for a significant increase in fuel prices, perhaps as much as 2p a litre in coming days.
“Further increases will depend on how long troubles in the Middle East and North Africa continue. We hope that, once these subside or OPEC intervenes to boost oil supply, a drop in oil prices will filter through as quickly to the pumps.”
As a consequence of the likely fuel price increases motorists are growing increasingly desperate to find cheaper alternatives to purchase and maintain a car.
One emerging option is to acquire a vehicle from online salvage auctions. With a choice of over 500 cars, vans and bikes for salvage every week, there is a great variety of models to suit a variety of budgets.
Motoring enthusiasts capable of getting their hands dirty can also repair a salvage car themselves using our used car parts that are significantly cheaper than brand new parts and are recycled and tested to legal roadworthy standards.
You can also reap significant financial rewards by purchasing a popular salvage car model. Once restored to roadworthy condition the vehicle will instantly increase in value, providing an excellent profit.
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