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Fuel retailers 'overcharging motorists'

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

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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 AAs 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.'