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Drivers in France warned of steep hike in petrol prices

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Drivers in France warned of steep hike in petrol prices
Photo: AFP
15:25 CEST+02:00
Motorists in France were warned on Monday that the price of petrol at the pump will rise steeply in the coming days and weeks. And there could be more bad news ahead.

Oil prices are expected to surge after the drone attacks on the Saudi oil instillations over the weekend.

The attack, which prompted the US president Donald Trump to warn that the US was "locked and loaded" and ready to respond, will push up the price of petrol at the pumps in France according to industry leaders.

The French Union of Petroleum Industries told AFP that the hike in oil prices will see petrol rise by 5 centimes a litre in the coming days and weeks.

"We can expect a quick rise of around 4 to 5 centimes," said the union's leader Francis Duseux.

"Five centimes is a considerable rise, and that's without considering that it might rise even further, which is the most worrying thing for French people," he said.

The drone attack has reportedly resulted in a 6 percent drop in global oil production.

Petroleum industry chiefs say France is at least safe from suffering a rupture in supplies given that by law it has to have three months worth of reserve fuel stocks.

"In the case that the supply of crude oil becomes a little more difficult, I don't think it would be a problem tenable French drivers to fill their tanks at service stations," said Duseux.
 
 

 

 
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