Petrol price drop by 4p again

UK fuel prices have fallen by more than 4p a litre for the second time this year, according to the AA. The motoring group said this could be due to […]

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By Priyanka Shrestha

UK fuel prices have fallen by more than 4p a litre for the second time this year, according to the AA.

The motoring group said this could be due to the Transport Secretary’s pressure for fuel price transparency following an AA campaign.

It’s Fuel Price Report shows the average UK petrol prices have fallen 4.36p per litre, from 138.40 to 133.77 since mid-May. This follows a drop of 4.08p a litre the previous month, which AA claims hasn’t been seen since late 2008.

The AA said the fuel industry will have to prove in the future that UK drivers are paying a fair price for fuel under Government’s pressure to make the prices transparent.

Edmund King, the company’s President said transparency in prices is vital : “For a fuel that transports food, goods and services around the UK and has driven more than 50% of new car sales in recent months, the need for pricing transparency becomes blindingly obvious – if only to protect fuel suppliers and retailers from accusations of profiteering.”

He added: “It is of course excellent news that a two-car family’s petrol costs have fallen £9.83 in the past month and £18.49 since the record high in April, but could the price crash have happened more quickly, as it did in Europe?”

Mr King also warned fuel prices could rise again by 3p a litre in August.