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BUDGET airline easyJet today braced investors for lower profits after warning of a potential £45m hike in fuel costs.

Chief executive Andy Harrison said the recent “unprecedented” rise in fuel costs would hit second half profits unless prices dropped.

Crude oil prices have reached a series of record highs in the past month to almost 112 dollars a barrel.

EasyJet said forward prices for fuel had risen from 840 US dollars a tonne to 1000 US dollars per tonne since February 7.

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