Consortium Warning: Retailers and Shops Face

consortium warning: Motorists can expect increases of up to 4p or 5p per litre by the end of the month, said the Petrol Retailers Association, according to The Guardian. Retailers: The sharp drop in the pound raises the prices retailers pay for imports, with the British Retail Consortium warning that shops face a challenging time. Who are the losers and the winners in sterling plunge Losers Drivers: Expect a surge in petrol prices in the next fortnight towards 120p a litre as motorists are hit by the double whammy of a fall in the pound and a rise in the price of crude on world markets, which are traded in dollars. But, so far, there is little hard evidence of price rises; mysupermarket.com said the average cost of groceries fell again in September, and are 3% cheaper than this time last year. Airport bureaux de change are offering tourists less than €1 for each £1 – just 97 cents in some cases. Holidaymakers: HSBC reckons the pound will hit parity against the euro, but for some holidaymakers that is already reality. (news.financializer.com). As reported in the news.