Petrol and diesel prices continue to rise in the UK. But there are some signs that things may soon improve for the former…
Hope Rises for Petrol Prices
The latest figures published by the RAC show that the average price of petrol rose on Tuesday, reaching 189.33p. That means it costs £104.13 to fill an average tank. Diesel’s also at a record high, with prices reaching 197.11p – closing in on the dreaded £2 mark. It now costs £108.41 to fill a 55-litre diesel. The most recent price rises coincide with mass-railway strikes, forcing more people to drive than usual.
Nevertheless, the RAC remains cautiously optimistic. At least as far as the price of petrol is concerned. This is because the price of oil has begun to decline. This, in the motoring organisation’s view, will put pressure on fuel retailers to pass on savings to consumers.
‘Pressure is Mounting’
Simon William’s, the RAC’s fuel spokesman, commented on the current fuel prices. He 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”.
He continued, “it now seems we’ve reached the current petrol peak, so we expect to see the big four supermarkets start to cut their prices. As they dominate UK fuel retailing this should lead to others reducing their prices too which will benefit drivers everywhere”.
Things aren’t looking quite as bright for diesel though, with wholesale prices still climbing. William’s explained, “if oil continues to trade lower, it could just prevent this from becoming a reality.”
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