Oil Price Rise

Oil prices could be due to rise in the coming months due to the attacks on Saudi oil fields.

The attacks come during escalating tensions between both Iran and the United States over recent weeks. Global oil prices are set to spike since the attacks and cause concern this may continue as the situation escalates further. The oil fields affected contribute to 6% of the world’s oil supply, meaning an increase is likely on the cards.

As you can see the average price of fuel in the United Kingdom has made a steady climb from 2015, and this spike is something we are hoping to be prepared for.

As you may be aware, currently Sheldon Clayton are not charging a fuel surcharges on deliveries. This only occurs when fuel prices increase above our base cost and is charged only when fuel is above this cost. Dependant on the outcome of these attacks and the fuel prices, we may have to reinstate the fuel surcharge applied to all jobs. If this does happen we will make sure to keep all of our customers informed.

If you do have any questions regarding the fuel surcharge or any information provided please see the below article or call our CSD team on 0121 521 5944

https://www.cbsnews.com/news/oil-prices-rise-saudi-arabia-attack-blamed-by-us-on-iran-trump-strategic-petroleum-reserve-today-2019-09-16/