RAC presses retailers to cut fuel prices as oil price slumps
The RAC is calling on retailers to cut the price of fuel after a sudden drop in the price of oil has brought wholesale costs down
The RAC is calling on retailers to cut the price of fuel after a sudden drop in the price of oil has brought wholesale costs down
The average price of petrol fell by nearly 2p a litre in May while diesel tumbled by 2.5p after retailers finally passed on savings in the wholesale price of fuel, data from the latest RAC Fuel Watch* report shows.
Unleaded finished the month at 116.72p a litre, down 1.83p from 118.55p at the beginning of May. Diesel, however, dropped further from 120.25p to 117.75p.
RAC fuel spokesman Simon
The RAC calls on retailers to cut fuel prices further and 'play fair' with drivers
Other supermarkets and fuel retailers expected to follow as one supermarket responds to our call for a price cut. RAC Fuel Watch indicate that a 3p cut could be on the cards.
Pump prices rose by more than a penny a litre in April, but a drop in the price of oil in the second half of the month and a jump in the value of the pound means retailers are now in a position to pass on a cut to motorists imminently. Drop in price of oil and jump in value of sterling give retailers chance to pass on savings.
Figures from RAC Fuel Watch show the biggest fall in diesel prices since January 2016
The RAC's fuel spokesman reacts to news today that retailers are to cut fuel prices for the second time this month
The RAC's fuel spokesman reacts to news today that supermarkets are to cut the price of fuel at the pumps
After two months of rises at the pumps, the price of petrol and diesel stabilised in February, according to RAC Fuel Watch data
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RAC Fuel Watch data shows a rise in pump prices, but are motorists in line for a price cut in February?
The RAC is renewing its call for the amount of money generated by fuel duty at each forecourt fill-up to be shown clearly on receipts by throwing its weight behind the Vehicle Fuel (Publication of Tax Information) Bill