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We’re being taken for fools. Wholesale fuel prices FALL. Pump prices RISE!

By Tom Gibson | June 27, 2022


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Fuel prices across the UK have seen further increases this week, according to RAC’s Fuel Watch, despite wholesale costs falling for the past two weeks.

We’re being taken for fools. Wholesale fuel prices FALL. Pump prices RISE!

The average price of petrol now stands at £189.33p, meaning a full tank is over £104.

We want to know why it’s taking so long for retailers to reduce the prices of fuel given they increase at the drop of the hat, given prices of fuel have been falling ever since the Jubilee weekend.

Previously, retailers have said a 2-3 week period is more than enough for cost savings to be passed onto the motorist.

RAC fuel spokesman Simon Williams said: “With the oil price falling and wholesale costs down over the last week, pressure is mounting on the biggest retailers to turn the tide and put petrol pump prices into reverse.

“It now seems we’ve reached the current petrol peak, so we expect to see the big four supermarkets start to cut their prices.”

Luke Bosdet, the AA’s spokesman on pump prices, said the situation is verging on a “disgrace”.

Mr Bosdet said: “Since the Jubilee, the wholesale cost of petrol has fallen. That is over a period that the oil industry says is long enough for changes in costs to start to be reflected at the pump.

“And yet, the average price of petrol across the UK hasn’t even levelled out. It has continued to rise to new records. UK consumers who use cars deserve to be treated so much more fairly by the road fuel trade. If forecourts don’t start to lower petrol prices this week, it will be a disgrace.”

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