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Petrol prices rise to record high

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UK petrol prices have risen to a record high

UK petrol prices have risen to a record high

UK petrol prices have risen to a record high

The average price of petrol in the UK has gone up to a record high of 121.61p a litre at a time when the wholesale cost has fallen, the AA said.

The all-time high has been reached while the wholesale price of petrol in north-west Europe has gone down by the equivalent of 2p a litre.

But this decrease has not been passed on to UK drivers, who have seen petrol prices rise from 109.88p a litre at the beginning of the year.

In the same period, the price of a litre of diesel has gone up from 111.52p to 123.03p.

The AA said the rise to record levels had added £5.87 to the cost of filling a typical 50-litre petrol tank and had pushed up the monthly petrol costs for a family with two cars by £24.91 - from £233.32 in January to £258.23 now.

AA president Edmund King said: "We know that record prices have squeezed profit margins for many independent retailers but would urge them to pass on whatever savings they can, partly because a fall in pump prices may bring back some of the 10-20% lost custom in recent months.

"As for the supermarkets, we hope that they will pass on savings directly to the pump and not use them to discount elsewhere."

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He went on: "Realistically, the volatility of stock markets and currencies mean that we have to be prepared for wholesale prices to go back up again. But, after a week of lower wholesale prices, drivers would consider it unacceptable profiteering if at least some of the saving wasn't passed on to them."


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