Fuel retailers 'overcharging motorists'

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

12 September 2008
Fuel retailers 'overcharging motorists'

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.'