Petrol and diesel prices are likely to rise by as much as 3p a litre in advance of Christmas as a result of the shutdown of one of the UK’s most important oil pipelines, the RAC is warning.

Petrol and diesel prices could rise by as much as 3p a litre

The Forties pipeline is the main oil and gas pipeline system in the North Sea, carrying 40% of the North Sea oil and gas production and according to the Oil & Sea UK trade association, is being shut down to repair a crack, causing significant issues to the industry.

Already RAC Fuel Watch data shows the price of Brent crude rose to $65.20 this week – the highest price it has reached since May 2015.
RAC fuel spokesman Simon Williams said: “This closure will inevitably lead to an unwelcome increase in the price with the knock-on effect of raising the wholesale cost of both fuels.”

A predicted rise of up to 3p a litre would take unleaded to 123.76p a litre and diesel to 126.21p a litre – their highest prices since November 2014.