BP posts eye-watering profits as families fear they have 'nothing left' to cut back on

BP chief executive Bernard Looney has welcomed his firm's eye-watering profits as ordinary families fear they will not be able to cut back any further

ENERGY giant BP has posted eye-watering profits of £6.9 billion as ordinary families across the country fear another expected increase in their utility bills.

Investors in the oil company have been cheered by the firm reaping the benefits of soaring fuel costs as it say its profits soar to a 14-year-high in the second quarter.