The RAC says the current petrol price is too high.

The motoring organisation is urging retailers to pass on recent falls in the wholesale cost of petrol.

According to the BBC, the RAC says there is “no good reason” for the skyrocketing prices and suggests petrol retailers should cut forecourt prices by 2p a litre.

But a fuel retailers association said wholesale price and dollar volatility had added to pressures on independent petrol stations.  

Retailer giant Asda was the first to cut fuel prices following the RAC’s claim.

The supermarket said it had reduced the price of unleaded by up to 3p per litre and diesel by up to 2p.

The new national price cap means drivers will pay no more than £1.25p per litre for unleaded, £1.28p for diesel at its 318 filling stations.

In May 2018, the BBC wrote that petrol prices rose by 6p a litre – the biggest monthly increase since the RAC began tracking prices 18 years ago.

According to the RAC, it was a “punitive combination” of higher crude oil prices and a weaker pound that was to blame for the surge in prices.

Average prices hit 129.4p a litre, while average diesel prices increased by 6p to 132.3p a litre.

The RAC says fuel prices have risen almost daily since the end of April, despite wholesale costs coming down by around 2.5p per litre since May 24.

More automotive news

New driving law changes in 2018

As 2018 draws to a close, we explore the new driving laws that were introduced in the UK this year. According to The Express, the driving laws range from new car tax rates to alterations to the driving test, and can results in some motorists landing a fine...

SMMT says Brexit deal critical to UK automotive industry

Three quarters of automotive businesses could be affected by a no deal Brexit, according to a new survey by the Society of Motor Manufacturers and Traders (SMMT). Speaking at the organisation’s 102nd annual dinner in London last week, SMMT chief executive...

Top 10 most unreliable used cars 2018

The ten most unreliable cars you can buy on the market today have been revealed.The findings came from a number of key indicators, including the numbers of claims against faults and how much each car costs.A spokesman for Warranty Wise, who conducted the...

Share This