This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7416133.stm
The article has changed 13 times. There is an RSS feed of changes available.
| Version 2 | Version 3 |
|---|---|
| Oil cools after vaulting to $135 | Oil cools after vaulting to $135 |
| (10 minutes later) | |
| Oil prices were well off their peak of $135 a barrel on Friday as investors cashed in on five sessions of rises. | Oil prices were well off their peak of $135 a barrel on Friday as investors cashed in on five sessions of rises. |
| US sweet light crude surged to $135.09 on Thursday, before tumbling to close at $130.81. London's benchmark Brent crude also fell. | US sweet light crude surged to $135.09 on Thursday, before tumbling to close at $130.81. London's benchmark Brent crude also fell. |
| But supply worries meant that prices once again found some support in Asian trade on Friday. | But supply worries meant that prices once again found some support in Asian trade on Friday. |
| US crude rose 47 cents to $131.28 amid fears about the effects of higher prices on the world economy. | US crude rose 47 cents to $131.28 amid fears about the effects of higher prices on the world economy. |
| London Brent rose 80 cents to $131.31. | London Brent rose 80 cents to $131.31. |
| Oil prices have risen about 40% this year, as soaring demand from emerging economies looking to power their growth has been exacerbated by supply fears and speculation on the world markets. | Oil prices have risen about 40% this year, as soaring demand from emerging economies looking to power their growth has been exacerbated by supply fears and speculation on the world markets. |
| The path of UK petrol and diesel prices | The path of UK petrol and diesel prices |
| "Supplies not growing is still the main thing," said Tony Nunan at Tokyo-based Mitsubishi Corp. | "Supplies not growing is still the main thing," said Tony Nunan at Tokyo-based Mitsubishi Corp. |
| "Opec can turn the tap but they cannot do it forever, and non-Opec growth is not enough," he added. | "Opec can turn the tap but they cannot do it forever, and non-Opec growth is not enough," he added. |
| Punishing effect | Punishing effect |
| The record-busting run in oil has pushed fuel bills up to the point where British drivers will pay £110m more for petrol over this weekend's bank holiday than they did a year ago. | The record-busting run in oil has pushed fuel bills up to the point where British drivers will pay £110m more for petrol over this weekend's bank holiday than they did a year ago. |
| UK'S CHEAPEST & MOST EXPENSIVE FUEL Cheapest unleaded: 107.9p (Gateshead) Most expensive unleaded: 125p (Northampton) Cheapest diesel: 117.9p (Mansfield) Most expensive diesel: 138p (Hexham) Source: PetrolPrices.com High oil prices are here to stay class="" href="http://newsforums.bbc.co.uk/nol/thread.jspa?forumID=4831&edition=1">Send us your comments | |
| The high cost of fuel is also having a punishing effect on airlines, with a number warning that they will have to cut flights and increase prices to survive. | The high cost of fuel is also having a punishing effect on airlines, with a number warning that they will have to cut flights and increase prices to survive. |
| British Airways boss Willie Walsh told journalists on a press trip to promote the UK carrier's new OpenSkies venture that airlines will now struggle to offer the cheap fares to which UK travellers have become accustomed. | British Airways boss Willie Walsh told journalists on a press trip to promote the UK carrier's new OpenSkies venture that airlines will now struggle to offer the cheap fares to which UK travellers have become accustomed. |
| He told the Guardian newspaper that many budget airlines would collapse, squeezed by the deadly combination of high fuel costs and declining passenger numbers, as consumers rein in their spending. | He told the Guardian newspaper that many budget airlines would collapse, squeezed by the deadly combination of high fuel costs and declining passenger numbers, as consumers rein in their spending. |
| Return to top | Return to top |