Fuel prices not falling fast enough – RAC
Fuel prices have fallen for seven days in row, but the RAC says prices are not falling as far or as fast as they should.
It has reported that the average price of a litre of petrol is now 157.34p, while average diesel prices are 189.88p. This compares to 132.83p for a litre of petrol at the end of February and 142.38p for diesel.
High fuel prices were blamed for UK inflation rising to 3.3% in March, with economists predicting it could rise to four per cent this year if energy prices continue to be impacted by the war in Iran.
RAC head of policy Simon Williams said: “While prices at the pumps have fallen for the last seven days, the drop isn’t as great or as quick as we’d expect, given our analysis of wholesale data.
“Petrol has only come down by a penny a litre and diesel by almost 2p (1.66p). We hope drivers will see the average price of petrol fall by at least 3p a litre and diesel by double that in the coming days.
“Drivers understand retailers have had no option but to put prices up due to the cost of oil being so much higher and they’re also suffering with fuel theft as widely reported this week, but as wholesale prices reduce so should forecourt prices.”
