Spain slows down as petrol prices rise

Spain is lowering speed limits on its roads, cutting prices for rail travel and is accelerating the country’s use of alternative energy sources including biofuels. The move is a reaction to the problems in Libya which is having a dramatic effect on the country’s fuel prices. The country’s motorways which now have a speed limit of 120kph will face a lowering to 110kph.

The Guardian report that the government was quick to dispel rumours that the country’s energy supply was in serious trouble.  It said that the problem was because of the closure of many oil companies in Libya which meant that the county’s national energy bill was on the rise. It was stressed that overall, Spain’s energy supply was not in danger.

[Finance & Economy Contributor]

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