Home Business NewsBusinessAutomotive Fuel prices hit record high prices for 10 consecutive weeks, but ‘wholesale prices have fallen significantly’

Fuel prices hit record high prices for 10 consecutive weeks, but ‘wholesale prices have fallen significantly’

by LLB staff reporter
23rd Nov 21 11:52 am

Fuel prices have hit record prices for 10 consecutive weeks, and according to government statistics the average price of petrol on Monday hit 146.89p, whilst diesel reached 150.73p.

Over the past 12 months the average cost of petrol and diesel has soared by around 34p per litre, which is approximately £19 more expensive for the average family 55-litre car.

Howard Cox, Founder of FairFuelUK has rightly argued that, current pump prices are approximately 4p to 6p higher than they should be, however wholesale prices of diesel and petrol have fallen significantly in the last week, so why won’t the government reduce prices for all motorists?

With inflation jumping to its highest level in a decade as energy and fuel bills soar, the government is not taking seriously enough the current rocketing high price of diesel and petrol.

Cox of FairFuelUK said on Monday, “High fuel prices are not saving the planet, they are crippling the economy, small businesses and low-income families.

“It is in the power of this Government to put cash back into all our pockets by doing the fiscal right thing and ignore the green myopic pressure to tax and tax.

“Time for the Conservatives to revert to type and cut this regressive punitive levy and stop the opportunistic profiteering in the Fuel Supply Chain.

“If gas, electricity, water and telecoms get price protection bodies, why shouldn’t motorists have one too? We need ‘PumpWatch’ now, to ensure pricing fairness for both consumers and hardworking fuel retailers too.

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