Govt to review steep petrol hike
India's coalition government opened the way for a partial rollback of the steepest petrol hike in the country's history after two days of street protests and dissent from within its own ranks over the unpopular measure. Full Article
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UK petrol records second-biggest monthly rise - AA
LONDON, June 18 |
LONDON, June 18 (Reuters) - Petrol prices in Britain rose nearly 5 pence per litre over the past month to mid-June, making the second largest monthly rise ever, the UK Automobile Association (AA) motoring organisation said on Thursday.
The rise in international crude oil prices pushed up the average UK retail petrol price by 4.98 pence a litre from mid-May to 102.66 pence ($1.67) per litre in mid-June.
"This rise is only two-thirds of a penny short of the 5.61 pence per litre record - at the same time last year," the association said in a statement.
International crude oil prices were around $70 a barrel this week, compared with above $134 in mid-June last year on robust demand from China and other emerging economies, which pushed the price to record highs above $147 the following month.
Crude oil has risen sharply over the past month on hopes of economic recovery. The rise has been reflected in petrol as gasoline supply on the wholesale market has been tight.
On the other hand, the UK average diesel price was just up by 1.36 pence since mid May to 104.85 pence ($1.70) per litre because the fuel is oversupplied.
The premium on diesel to petrol shrank to 2.19 pence as of mid-June from 13.4 pence a year earlier.
(Reporting by Ikuko Kao; Editing by Keiron Henderson)
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