Motor insurance holders will soon have to dig into their pockets as record fuel prices arrive across Britain, due London's biggest oil refinery entering administration.
The Coryton refinery, which is based on the Thames and owned by Petroplus in Switzerland, now has PwC assigned as its administrator amid worries that around 1,000 jobs will be placed in danger.
It appears that even more people around the country are set to be affected, as the loss of refined oil will lead to a national deficit of fuel.
This will result in exports being brought in and the cost will be passed on throughout the UK's forecourts. The refinery was affected by people choosing to drive less as a means of saving money.
Before this week, the plant had been routinely refining 175,000 barrels of crude oil every day, supplying around a tenth of Britain's total number of forecourts and a fifth of those in London and the south-east.
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