Fuel retailers 'overcharging motorists'

• Oil prices falling
• Fuel prices not dropping at same rate
• Retailers accused of profiteering

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Petrol retailers are under growing pressure to drop prices in line with the falling cost of oil.

The cost of a barrel of crude oil is hovering around $100, down from almost $150 at its peak in mid summer, but consumer groups say this has not been reflected in forecourt prices.

When oil prices were last below $100 a barrel in April, a litre of petrol cost on average 108.1p with diesel at 117.4p, according to the AA’s monthly fuel price report.

The latest figures show that the average price is 112.8p for a litre of petrol and 124.3p for a litre of diesel. This has led to accusations that consumers are not being given a fair deal.

AA president Edmund King said: 'Allowing for the weaker pound and other factors, UK motorists are being overcharged.'