According to the AA, petrol prices have climbed above 150p per litre on average for the first time in five months, posing additional challenges for drivers.
According to the AA, petrol prices have climbed above 150p per litre on average for the first time in five months, posing additional challenges for drivers.
Drivers may soon pay over 150p per litre for fuel following substantial price increases, raising concerns about potential profiteering at petrol stations.
In just three weeks, petrol prices have surged by 3p, sparking inflation worries for the Chancellor ahead of next month’s Budget announcement, according to recent data.
The UK’s competition authority has issued a caution to fuel retailers regarding the pace at which fuel prices have decreased in recent times and the genuine level of competition in
The motoring association alleges that the average pump price isn’t reflecting the declining costs.
Between August and September, the average petrol price increased by 5.1p per litre, as reported by the Office for National Statistics, keeping inflation steady at 6.7%.
In August, drivers faced one of the steepest monthly increases in fuel prices in over two decades, as recent data reveals.
The Competition and Markets Authority (CMA) attributed the recent rise in fuel prices since 2019 to lessened competition among supermarkets.
Following the competition watchdog’s decision to intensify scrutiny of the market, supermarkets and other prominent retailers have hastened their cuts to diesel prices, as reported by the RAC.
A leading UK motoring organization, the RAC, has accused retailers of artificially raising diesel prices at the pump, even though wholesale prices for diesel have dropped below those of petrol.
According to a report by a motoring group, despite similar wholesale costs, diesel is being sold at an average of 17 pence more per litre than petrol.
According to the AA, diesel is 23.95p per Liter more expensive than petrol.