US petrol at the pump may have reached its annual peak the earliest in 14 years, amid rising oil supply, easing Middle East tensions and the takeover of refineries that were threatened by closure.

Market speculators and the winter rise in demand have been blamed for rising diesel prices.

Energy giant BP today announced the sale of its last refinery in the UK.

The FTSE 100 Index closed above the 6000 threshold for the first time since May today buoyed by record levels in the US.

A leading biodiesel producer celebrated a milestone today with a major deal to supply green fuel to the UK’s largest independent refiner of crude oil.