According to transport business website www.motortradenews.com fuel price rises are on their way, meaning it’s more important than ever that motorists keep their cars in tip top condition for maximum economy.
Absolute Alignment’s technical manager Chris Dear says:
“Four wheel alignment makes sure all wheels are rolling perfectly straight with no “scrub” which increases tyre wear and takes more engine power – hence more fuel – to drive. The poor state of our roads makes regular checks imperative”.
The full transcript of the motortradenews.com article is given below:
UK petrol and diesel prices could be set to rise again soon thanks to continuing trouble in the middle east, the reduction by one third in Libya’s oil exports and the demand for oil slowly returning to some Asian markets pushing crude oil prices past $110 per barrel, so says the petrol retailers trade body the Petrol Retailers Association (PRA).
The PRA’s predictions come on the same day as Goldman Sachs Group forecast that Brent crude prices may rise to $115 a barrel in the ‘very near term’.
Highlighting the potential for a rise, Brian Madderson, Petrol Retailers’ Association Chairman said, “Fuel prices are expected to increase throughout the UK as external factors have a great impact on the price of crude oil. UK petrol prices have not yet seen the full impact of this crude oil increase due to the rapid and slightly unexpected revaluation of pound sterling from $1.48 to $1.56. Therefore it was concerning to read recent comments from the City that the ‘pound is overblown’ and will soon come hurtling down towards the $1.45 level. We calculate at current wholesale prices that this will add a further 5pence per litre at the pump before the end of September and hit businesses and households in the pocket at a time when pundits are forecasting a continued increase in retail sales to drive growth in the economy. Should the Middle East tensions escalate further and crude oil prices react accordingly, the Bank of England’s new inflation targets could be significantly challenged.”
Madderson added, “The sooner the EU Competition investigation into allegations of oil price fixing is completed, the more certain we can be that our retail fuel prices are only being influenced by macro-economic and political factors and not anti-competitive actions of the oil companies.