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Petrol Prices Set To Rise

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Petrol Prices Set To Rise Once More.

The brief dip in petrol prices appears to have come to an end, new figures from the Automobile Association have revealed.

Petrol prices will continue to rise, say the AA

But with predictions of an increase in prices ahead, the AA also claims drivers have been "ripped off" by petrol stations when the price of oil was lower.

The breakdown rescue group, which reached its predictions on prices along with Experian Catalist, says the potential savings were not passed on to motorists.

The cost of filling up at the pumps in mid-June has been a little lower than it was at the same point in May.

But the AA has reported that the prices have been creeping up in the past few days - with the average cost of unleaded petrol now 136.07p a litre.

That figure is down 0.86p on the mid-May average, but higher than the 135.75p-a-litre figure on June 5.

Without transparency in the oil and fuel markets and a regulator to ensure fair prices, drivers, consumers and the nation are open to being ripped off by whoever wants to make an extra buck.

The price for diesel now averages 139.77p a litre, which is down 1.72p on the mid-May figure - but fractionally above the low point of 139.34p on June 5.

Analyst's have predicted the rise will be steeper and noted Thursday's average was 136.12p for unleaded and 139.87p for diesel.

In spite of the dip in the prices since early May, the AA said it believed petrol users had "ripped off" and called for more transparency in the oil and fuel markets.

The crash in oil price - from $126 a barrel to below $110 - has short-changed drivers by around 2p a litre or £1 a tank, the motoring organisation said.

"Had the full potential 4p drop in petrol price, from May's all-time high of 137.43p a litre to the 133.5p seen in March when oil initially settled at $115, been passed on, it would have saved a two-car family £8.49 over the month and possibly improved Tuesday's inflation figures," AA president Edmund King said.