Media playback is unsupported on your device

Petrol prices could rocket amid Middle East unrest

Growing civil unrest across the Middle East could inflate petrol prices by as much as 5p a litre.

The Petrol Retailers Association (PRA) warn that conflict in Syria and Egypt, oil port blockades, the reduction of Libya's oil exports by a third and a growing demand for oil from Asian markets have all impacted prices.

The cost of Brent pushed through the critical $110/barrel level last week which equates to a 10% increase since the end of June.

PRA Chairman Brian Madderson, told BBC Radio 5 live's Wake Up to Money: "The Arab Spring feels like it's moving into an Arab Winter of Discontent - and if that is the case the price of Brent crude is certainly going to push up."

  • 22 Aug 2013
Go to next video: Jordan doubles tax on mobile phones