Fuel prices inexplicably continue to rise: RAC

Fuel prices inexplicably continue to rise: RAC

Fuel prices are inexplicably continuing to rise despite showing signs of peaking earlier this week, the RAC says.

RAC fuel spokesman Simon Williams said: “Inexplicably, fuel prices rose yet again yesterday with petrol hitting a new all-time high of 191.24p per litre and diesel just short of another record at 199.01p.

“We can see absolutely no rhyme or reason why average forecourt prices are still going up, given that the wholesale price of both fuels has been falling for weeks.

“Drivers up and down the country have a right to know why they’re having to pay what they are for fuel when the costs to retailers right now are so much less they were a few weeks ago. Next Thursday’s announcement by the CMA following its review will no doubt be watched very closely.

 “Suggestions that the Government might be about to announce more support for hard-pressed drivers are welcome. A cut to the price of forecourt fuel really can’t come soon enough.

“If it’s a further fuel duty cut that the Chancellor decides on, it’s absolutely vital that this is passed on in full immediately by retailers to give drivers some respite from these historic high prices. It’s also vital the Government monitors the wholesale market and closely scrutinises retailer margins.”

On Monday the RAC had expressed hopes that pump prices had peaked for the time being as petrol crept only very slightly higher than the day before at a new record average price of 191.1p.