From Sunday Herald
"
DRIVERS faced soaring
prices at the pumps
in 2011, with the cost
of unleaded petrol
reaching a record 137.43p
a litre in May. The cost of filling
up has dropped since and,
amid an outcry of protest,
Chancellor George Osborne
cancelled a planned 3p rise on
tax paid on unleaded petrol and
diesel. It was due to come into
effect today.
But AA spokesman Luke
Bosdet said the motoring
organisation would publish
research this week showing
a "significant number" of drivers
intend further reducing their car
use in the coming year, with
many still struggling to afford
the cost of fuel, now averaging
132.71 p for petrol.
He said: "The fear is that
when even the slightest green
shoots [of recovery] start to
appear you will have people
running around saying the era of
cheap oil has ended, demand
will be greater than supply, the
price of oil will be going up and
you need to buy now - and that
then sends the price soaring.
"Alternatively, we might have
a little bit of a problem in the
Middle East... you can always
look to a little global tension just
to push the price up as well.
"The only counter is that it is
a case of 'be careful what you
wish for'. If the price of oil drops
spectacularly the chances are
the reason for that is because
the euro has collapsed or some
other global economic activity
has gone badly wrong. So it is
a balancing act."
He added motorists would
benefit if the pound improved in
value against the dollar, gettinq
more fuel for their buck"
"