As petrol prices hit a new record high, a disagreement has opened up between major motoring groups the AA and RAC about speculation on fuel pricing.
The two driving champions reacted to this week’s news that fuel prices have continued to rally, with petrol up 1p per-litre to 186.59p, up from 185.44p on 13 June, making it almost £103 to fill up a full tank.
It has been rising daily for the last month, now by 21p, which has added more than £11 to the average bill to full up a tank.
Diesel prices have also been skyrocketing to 192.4p per litre, up from 191.21p from the previous day, equating to nearly £106.
RAC and the AA urged the government to step in cut and fuel tax, while ensuring and the cut announced in the Spring budget is passed on to the consumer.
“Fuel prices jumped by more than a penny a litre on Tuesday to further record highs”, said RAC fuel spokesman Simon Williams.
He added, according to the organisation’s research, “the cost of wholesale diesel shows it appears to be heading inexorably towards a previously unthinkable average of £2 a litre.”
“Unfortunately, it has already crossed this threshold at motorway services. So far this month diesel has increased by 10p a litre while unleaded has jumped by a shocking 12.5p.
The AA bemoaned the rise in petrol prices, but said another penny on the price “is a surprise given that wholesale costs have been level if not lower since the Jubilee.”
“If petrol continues to go up at the same rate heading into the weekend, I think the Government has yet another reason to call the retailers out and push for the CMA investigation,” Luke Bosdet, the AA’s spokesman on fuel prices said.
Bosdet appeared to disagree with the RAC’s remarks about diesel however, saying that while “it might reach an average of £2 a litre.. why invite the fuel trade to speed up the pump price rises?”
“It’s a volatile market, nothing is guaranteed until it happens.”
Meanwhile, the Competition and Markets Authority confirmed this week it has launched a review of the petrol market, amid Goveernment concerns the five pence fuel duty cut announced in March has not been passed on to drivers.