The problem of rocketing diesel prices looks set to persist as crude oil is predicted to surge to $200 a barrel within the next two years, according to a report released yesterday.
In the report by Goldman Sachs it states that a lack of new crude supply growth, combined with soaring global demand, could push oil prices as high as $200 a barrel as part of a “super-spike” over the next two years.
Arjun Murti, an energy analyst
with Goldman Sachs, says in the report: “The possibility of $150 to $200 per barrel seems increasingly likely over the next six to 24 months, though predicting the ultimate peak in oil prices, as well as the remaining duration of the upcycle, remains a major uncertainty.”
New York-based Murti first wrote of a “super spike'' in March 2005, when he said oil prices could range between $50 and $105 a barrel through to
At the time of writing this, crude has hit $121 a barrel, while the bulk diesel price quoted on the FTA website has soared to 100.32p/litre.
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