Petrol prices reached a record 185p per litre on Sunday, as ministers demanded an urgent review of whether the fuel duty cut was passed on to drivers.<\/p>\n\n\n\n
The AA, on the other hand, predicted that petrol pump prices “should be grinding to a halt, at least temporarily, by the end of the week” as wholesale prices fell.<\/p>\n\n\n\n
Fuel price increases have been fueled by the Ukraine conflict and efforts to reduce Europe’s reliance on Russian oil.<\/p>\n\n\n\n
Motoring organisations have urged the government to do more to assist drivers.<\/p>\n\n\n\n
A further reduction in fuel duty would be “very welcome, albeit long overdue,” according to report.<\/p>\n\n\n\n
“The rate and magnitude of the increase in unleaded is astounding.”<\/p>\n\n\n\n
“This must surely increase pressure on the government to take action to avoid a summer of discontent at the pump.”<\/p>\n\n\n\n
Meanwhile, diesel prices fell slightly on Sunday to 190.92p per litre, after reaching a new high of 191.03p on Saturday.<\/p>\n\n\n\n
The average cost of filling a 55-litre family car with diesel is now \u00a3105.01, while a petrol car costs \u00a3101.77.<\/p>\n\n\n\n
Retailers base their prices on the wholesale cost of gasoline and diesel, but there is a two-week lag for pump prices to reflect changes in wholesale prices due to the time it takes for fuel to reach forecourts.<\/p>\n\n\n\n
For more than ten days, the wholesale price of petrol had been lower than its peak before the Jubilee bank holiday, according to report.<\/p>\n\n\n\n
However, wholesale diesel prices are still rising.<\/p>\n\n\n\n
“Diesel’s relentless surge in costs remains a nightmare,” said AA fuel price spokesman Luke Bosdet, “with its knock-on impact for the cost of delivery of goods and services, and thus inflation.”<\/p>\n\n\n\n
He went on to say that because the petrol market is “extremely volatile,” “only time will tell whether the recent drop in costs is a brief pause or a longer-term reversal.”<\/p>\n","protected":false},"excerpt":{"rendered":"
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