Business
Warning Over Fuel Prices
Wholesale oil prices have risen in the last month as attacks on shipping have increased.
EVF has said warned that prices could go up due to the Houthi attacks in the Red Sea.
Wholesale oil prices have risen in the last month as attacks on shipping have increased.
One of the recent attacks on Friday saw a British-linked oil tanker in the Gulf of Aden hit by a missile fired by the Houthis.
EVF said: ‘Oil prices continuing to rise on the back of attacks on shipping in the Red Sea, thankfully this doesn’t mean immediate increases on the pumps on island, although has the potential to effect prices when the next ship arrives.
‘Myth – prices increase on the same day oil prices rise, and take ages to drop, Fact – prices on island fluctuate depending on cost of product purchased and frequently of shipments to the island.’
