Drivers planning to fill up their vehicle with petrol or diesel in the coming days have been issued a warning by motoring organisation the RAC. Motorists are being advised prices could be on the rise again.
Retailers have failed to fully reflect the fall in wholesale prices, according to the RAC. The RAC has warned wholesale diesel costs have plunged 32p per litre - but the pump price has only fallen by 20p in the same period.
As reported by Birmingham Live, petrol costs have plunged by 23p in the same period, but at the forecourt, the prices have only been reduced by 18p. It means motorists are paying over the odds, the RAC said.
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The RAC said retailers make more money out of drivers from every litre of fuel they sell by "keeping pump prices artificially high". Some of these retailers include a number of the UK's biggest supermarkets, like Tesco, Sainsbury's, Asda, and Morrisons.
RAC fuel spokesman Simon Williams said: "This is a galling situation for drivers who are struggling more than ever given the impacts of the wider cost of living crisis. The question now is whether retailers start to bump up their prices.
"This will depend on whether they decide to continue enjoying larger margins or let them return to more normal levels. Looking at current wholesale costs there is absolutely no justification for pump prices to rise.
"We urge the Government to focus on ensuring retailers quickly pass on savings to drivers every time there is significant downward movement in the wholesale price of fuel - not just to ensure drivers aren't treated unfairly, but also because there is a clear correlation between high fuel prices and higher levels of inflation."
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