Do you doubt fuel will hit £2 per litre?

Date: 16 May 2008

Tristan Young is Editor-in-chief of BusinessCar

Fuel prices are rocketing, but if you think this is a temporary spike with prices coming down again, it's probably time to think again.

The recent report from oil industry analyst Arjun Murti at Goldman Sachs not only suggests the price of a barrel of crude could hit $200 within 24 months, but he goes on to say: "In our view, a gradual rally in prices is likely to be longer lasting than a sharp, sudden spike."

If you think the analyst's comments are scare tactics, Goldman Sachs is the same firm that three years ago was ridiculed for predicting oil would hit $100 dollars a barrel. It's now at nearly $120. This time people are taking the report far more seriously.

So, given the average life on fleet for a car is three years, what are you doing now in readiness for higher fuel prices?

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