Petrol prices 'should fall in line with oil'AA says price cuts have not filtered down to pumps
17 September 2008
Falls in the world price of oil have not been reflected at petrol pumps, the AA said today.
Average UK petrol prices have barely fallen in a month despite oil prices going back down under the 100 US dollars a barrel mark, according to the latest AA fuel price report.
Petrol prices across the UK fell by just one quarter of a penny over the past month, from 113.15p a litre in mid-August to 112.88p in mid-September.
The average price of diesel dropped 1.32p a litre, from 125.58p to 124.26p - closing the price gap between petrol and diesel to 11.38p
The AA said it anticipated a drop of 4p a litre for petrol and 6p for diesel in coming weeks.
Across half the UK, including Scotland, northern England, Wales and south west England, the average price of petrol went down by a mere tenth of a penny in the period mid-July to mid-August.
Regional fuel prices
Wide variations between regional prices remained, with petrol in London - the most expensive area - costing nearly 2p a litre more than in Yorkshire, Humberside and north west England.
AA president Edmund King said: 'Hurricane Ike's failure to damage oil infrastructure in the US and falling demand for petrol has sent oil crashing under the 100-dollar mark.
'With US wholesale petrol prices also falling, we expect UK pump prices to fall sooner rather than later - and significantly.
'The country has already had a taste of falling wholesale prices not being passed on quickly enough to beleaguered UK consumers this summer.
'We hope that it is not just one supermarket playing it straight with car-owning customers this time.'
© The Press Association.