UK petrol prices head even higher

Facts and figures behind UK petrol price rises At-a-glance

UK petrol and diesel prices are still rising in the wake of Hurricane Katrina, with the average cost of petrol now at 95.1 pence a litre.

The average cost of a litre of unleaded petrol has edged higher since Monday when it stood at 94.6p, according to figures from industry body Catalist.

Average diesel prices also tracked a nervous oil market, inching ahead to 97.6p, from 97.3p on Monday.

And super-unleaded fuel topped the £1 barrier for the first time at 100.36p.

Back on tap

Prices are on the up despite a fall in oil prices below the $66 a barrel mark.

US light crude fell $1.59 to $64.37 a barrel on Wednesday, after a $1.61 drop on Tuesday, while London Brent crude shed $1.78 to $62.89 a barrel.

Prices have now fallen more than $5.00, or 7%, from the record-high of $70.85 reached last Tuesday after the full impact of Hurricane Katrina came to light.

They are now skirting around levels seen before the storm ravaged the Gulf of Mexico.

Nine refineries knocked out by Katrina have resumed normal operations, with two others on schedule to restart operations later this week.

What is the status of Louisiana's refineries?

Originally, Katrina knocked out about 10% of the US's refining capacity.

Meanwhile, analysts predict no major drop in oil prices in the near future given that fact that another unnamed tropical storm is threatening eastern Florida.

This has made oil traders only too aware that the Gulf of Mexico hurricane season is not over yet - it lasts until the end of November.

Refineries restarting
The status of US oil refineries shut by Hurricane Katrina (all in Louisiana except where marked)
Owner	Location	Capacity (bpd)	Status
Motiva	Convent	235,000	Restarted
Motiva	Norco	227,000	Flare lit - Midweek restart
Marathon	Garyville	245,000	Restart begun on Monday
Valero	Norco	185,000	Power restored - midweek restart
Murphy Oil	Meraux	125,000	Relit but crude leak
Chalmette Refining	Chalmette	190,000	Assessing damage
ConocoPhillips	Belle Chasse	247,000	Assessing damage
Chevron	Pascagoula, MS	325,000	Assessing damage

Return to the top