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Business and Money Oil prices: more gain, more pain

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Last Modified: 22 May 2008
By: Rags Martel

More4 News asks Shell's chief executive what he thinks about the record price of oil.

The price of oil hit a record high today, and as one leading industry boss told us, there is no way of knowing how much the price of oil will continue to rise.

In the United States the benchmark cost of light crude is $135 a barrel, which is likely to mean even more pain at the petrol pumps.



Today the British Chambers of Commerce demanded urgent action, with companies warning that higher fuel bills will also hit other household costs.

Kylie Morris spoke to the chief executive of Shell, Jeroen van der Veer, who was in France for the company's Eco Marathon event to find the most fuel efficient vehicle.

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