Oil ‘could hit $250 a barrel’
MOTORISTS were urged not to panic last night as oil prices were predicted to DOUBLE to $250 a barrel.
That would send unleaded soaring to 230p a litre, push energy prices through the roof and force scores of airlines out of business.
Russian energy giant Gazprom made the $250-a-barrel prediction at a summit in France.
Chief executive Alexei Miller said: "The price is going to reach a level never before seen. We think it will reach $250 a barrel in the foreseeable future."
In Scotland yesterday, an 80-lorry convoy was joined by taxis to protest against fuel prices in a demonstration from Glasgow to Edinburgh.
Meanwhile, there are fears some garages could run out of fuel as petrol tanker drivers prepare for a four-day strike from Friday.
Emergency stockpiles have been set aside for police, ambulances and fire services.
And steps were also taken to ensure supplies around the UK.
A spokesman for the Prime Minister condemned the stoppage which will hit Shell filling stations — one in ten of Britain’s forecourts.
Motorists were urged not to cause shortages by panic-buying petrol and diesel.
But the Department for Business, Enterprise and Regulatory Reform admitted it was "inevitable" some filling stations would run out.
The 500 drivers employed by Hoyer UK and Suckling Transport, which supply Shell petrol stations, are demanding a 13 per cent pay rise.
Hoyer insisted its 6.8 per cent offer was a good deal and would give the average driver £39,000 a year.
Union Unite said Shell made £13billion profit a month and could settle the dispute for around £1million a year.
Both sides will today hold talks with the conciliation service Acas.
FUEL sales have dropped by as much as 20 per cent in the last 12 months, the International Energy Agency claimed last night