Petrol still rising despite falls in Europe
By Ray Massey
18 February 2011Filling stations are ripping off motorists, according to research released today.
The AA motoring group accuses retailers of failing to pass on a fall in wholesale petrol costs, which saw prices in Europe dip 4.4% in January to 121p a litre.
Rip-off Britain: Brits pay 129p a litre for unleaded - compared to 121p on the continent.
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Britons, by contrast, saw a 1.18% increase to 129p.
Unleaded petrol yesterday hit a record £5.86 a gallon while diesel was also in uncharted territory at £6.10 a gallon, or 134p a litre.
It means filling up the 70-litre tank of a family saloon now costs £90.20 - compared with £78.47 a year ago.
The AA said that even though wholesale costs have started to rise again, European prices are 3% lower than three weeks ago, compared with 0.8% higher in the UK.
It also accused supermarkets of operating a charging lottery, where prices in neighbouring towns can vary by 4p a litre.
It said Asda was an honourable exception with a national pricing policy and low prices.
AA president Edmund King said: 'Whether retailers are trying to compensate for lower volumes of sales or supermarkets are choosing to convert fuel-cost savings into cut-price toilet cleaner offers is irrelevant.'
European fuel retailers, including France with its aggressive supermarket pricing, are under similar strains yet they passed on much of the wholesale petrol price reduction. They also reduced diesel prices for a while.
'It is time that the retailers recognised that greater price transparency will protect their interests, as well as those of consumers and the Government.'
Friday, 18 February 2011
Petrol still rising despite falls across Europe | This is Money
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