RAC reacts to JP Morgan report suggesting oil price could hit $90 a barrel

Reacting to a report from JP Morgan that suggests the oil price could reach $90, RAC fuel spokesman Simon Williams said:

“A further increase in the price of oil would almost certainly mean higher fuel prices for UK drivers – the only thing that could stop that happening would be a dramatic boost to the value of the pound which has been very volatile recently, partly as a result of the ongoing Brexit negotiations.

“If a rise in the oil price were to coincide with a further fall in the value of the pound against the dollar, the effect on prices at the pumps would be severe, with drivers likely facing record high prices of above 142p per litre for petrol and 148p per litre for diesel.”

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About RAC Media Centre

The RAC Media Centre provides journalists and news outlets with the latest motoring-related news, comment, data and research.

The RAC is an iconic UK brand, and provides complete peace of mind to nearly 14 million UK private and business drivers - whatever their motoring needs. As well as its premium nationwide breakdown assistance service – with an expert branded patrol workforce attending more than two million breakdowns every year – and European breakdown assistance products, it offers a wide range of market-leading products across insurance, legal services, vehicle inspections and service, maintenance and repair. Included in this is the first-of-its-kind nationwide Mobile Mechanics service which brings the garage to homes and workplaces. 

At the forefront of new solutions for business fleets and consumers, the RAC’s breakdown service is electric-ready with mobile EV charging technology and be called on using myRAC – its all-in-one route planner, fuel finder and breakdown reporting app

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