UK petrol prices hit a fresh record on Tuesday, an increase labeled as inexplicable by one of the country’s main motoring groups.
Petrol climbed to 191.24 pence ($2.33) per liter, motoring group RAC said in an emailed statement. Diesel rose to 199.01 pence per liter, just short of a record.
“Inexplicably, fuel prices rose yet again yesterday,” Simon Williams, a fuel spokesman for RAC said. “We can see absolutely no rhyme or reason why average forecourt prices are still going up, given that the wholesale price of both fuels has been falling for weeks.”
Drivers deserve an explanation of why fuel prices are continuing to move higher in the face of lower wholesale costs, Williams said, adding that the government should scrutinize retailer margins. Business Secretary Kwasi Kwarteng said earlier this month he has asked the Competition and Markets Authority to urgently review the retail fuel market, to assess whether it has hurt consumer interests amid rising prices.
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