'WHAT'S HER SECRET?'
Petrol and diesel prices could soar by up to 12p a litre before Christmas, motorists warned
PETROL could soar by up to 8p a litre in weeks, motorists were warned yesterday.
Diesel drivers face an even worse clobbering at the pumps with hikes of up to 12p.
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The alert by a top economist follows a surge in the price of Brent crude — up a fifth since summer.
Petrol, now 119p a litre on average, could rocket to 127p before Christmas, according to George Buckley, of investment bank Nomura.
That would add £150 a year to a typical motorist’s fuel bill if they use 35 litres a week.
Last night Howard Cox, of pressure group Fair Fuel UK, urged Chancellor Philip Hammond not to raise fuel duty in next week’s Budget.
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He said: “Struggling small traders and businesses deserve and need all the help they can get.”
Brent crude is trading at £48 a barrel — £13 more than in June.
The price is the highest since the middle of 2015. Simon Williams, of the RAC, said: “Motorists are going to be hit by rising pump prices in the next few weeks.”
His own experts believe the petrol increase will be 3p a litre with diesel — currently 120p — going up by just 1p.
Rises would boost inflation, leading to pressure for another interest rate hike.
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