Petrol prices hit record as wholesale cost falls

The wholesale price of petrol in north west Europe has gone down by the equivalent of 2p a litre, but this decrease has not been passed on to UK drivers, who have seen petrol prices rise from 109.88p a litre at the beginning of the year. In the same period, the price of a litre of diesel has gone up from 111.52p to 123.03p.

The AA said the rise to record levels had added 5.87 to the cost of filling a typical 50-litre petrol tank and had pushed up the monthly petrol costs for a family with two cars by 24.91 to 258.23.

AA president Edmund King said: "The volatility of stock markets and currencies mean that we have to be prepared for wholesale prices to go back up again. But... drivers would consider it unacceptable profiteering if at least some of the saving wasn't passed on to them."

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