While the horrific destruction that Hurricane Harvey has left in its wake might feel like a nightmare happening miles away, we might end up feeling the after-effects in the UK as well. The RAC has warned that petrol prices could soar across the country, due to disruption at numerous US oil refineries. The hurricane affected the production of a third of the country’s oil refineries (59% of which are on its Gulf Coast), as well as restricting US oil pipelines. In total, American oil refinery output dropped by a quarter, thus increasing US demand for petrol imports, and raising prices in the UK.
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Before the hurricane, petrol prices had been expected to remain fairly steady at around 116p per litre (diesel, meanwhile, remains at around 118p per litre and is expected to stay there).
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