Further fuel protests feared
Oil prices have once again hit a record high above 102 US dollars a barrel, sparking fears UK petrol prices are set to soar again.
The hike in prices has been blamed on a slide in the US dollar, which prompted investors to pump more cash into energy futures as a hedge against inflation.
The Government is already under intense pressure to scrap a rise in fuel tax and hauliers are already threatening protests.
Light, sweet crude for April delivery hit as high as $102.08 a barrel in electronic trading on the New York Mercantile Exchange.
Brent Crude figures – the main European benchmark – also reached the $100 mark.
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