Anyone planning to head out to fuel up their car in the coming days has been issued an urgent warning by the RAC.
Motorists are being warned by the automotive services company as petrol prices could increase again, reports Birmingham Live. According to the RAC, retailers have failed to fully show the fall in wholesale prices through their fuel prices.
The company has warned that wholesale diesel prices have fallen by 32 pence per litre - but the pump price has only fallen by 20 pence during this period.
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Petrol costs have also plummeted by 23 pence in this period, but have fallen by 18 pence at forecourts. This news means motorists are paying over the odds, the RAC says.
The company have said that retailers, like some of the biggest supermarkets - including Tesco, Asda, Sainsbury's and Morrisons - are making more money out of drivers for every litre of fuel by "keeping pump prices artificially high".
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."
This analysis by the RAC backs up a report by competition watchdog, the Competition and Markets Authority, published last month. This report said drivers were the victim of "rocket and feather" pricing in 2022.
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