Motorists should expect high petrol prices for
years to come, Gordon Brown signalled yesterday.
The Prime Minister said the cost of oil was likely to remain high
"in the long term".
His warning came as Alistair Darling, the Chancellor, indicated that – following a campaign by The Telegraph – a 2p increase in fuel duty was unlikely to be introduced in October.
But after a meeting with oil industry chiefs in Scotland, the Prime Minister offered little further comfort to motorists, who are facing mounting costs under plans to introduce new higher rates of car tax.
Mr Brown, who described recent price rises as the "third great oil shock in decades", said that while he wanted to help the "hardest-hit" families, the problem of global demand outstripping supply was not easily fixed.
He said: "This is not just a national problem. It is a global problem of supply and demand, not just in the short term but the medium term and long term."
As Mr Brown met representatives of BP, Shell and Total, the Government announced moves to increase North Sea oil production.
