{"id":140349,"date":"2018-06-13T00:51:48","date_gmt":"2018-06-13T00:51:48","guid":{"rendered":"http:\/\/freeonlinetranslators.net\/news\/english\/petrol-price-levels-cannot-be-justified-says-rac\/"},"modified":"2018-06-13T00:51:48","modified_gmt":"2018-06-13T00:51:48","slug":"petrol-price-levels-cannot-be-justified-says-rac","status":"publish","type":"post","link":"https:\/\/freeonlinetranslators.net\/news\/english\/petrol-price-levels-cannot-be-justified-says-rac\/","title":{"rendered":"Petrol price levels cannot be justified says RAC"},"content":{"rendered":"<figure>                                  <img decoding=\"async\" alt=\"Petrol pump\" src=\"https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/13EFC\/production\/_95306618_fycmbykb.jpg\"\/>                      <\/figure>\n<p class=\"caps\">The RAC says the current petrol price is too high and cannot be justified.<\/p>\n<p>The motoring organisation is urging retailers to pass on recent falls in the wholesale cost of petrol.<\/p>\n<p>It says there is &quot;no good reason&quot; for keeping prices as high as they are and says petrol retailers should cut forecourt prices by 2p a litre.<\/p>\n<p>But a fuel retailers association said wholesale price and dollar volatility had added to pressures on independent petrol stations.<\/p>\n<p>The RAC says fuel prices have risen almost daily since the end of April, despite wholesale costs coming down by around 2.5p per litre since May 24.<\/p>\n<ul>\n<li>Reality check: Why do fuel prices vary so much?<\/li>\n<li>Petrol prices in record monthly rise, says RAC<\/li>\n<li>Fuel hikes threaten consumer spending<\/li>\n<\/ul>\n<p>It says diesel prices have been rising for even longer, with supermarkets raising the price every single day since the 27 March.<\/p>\n<p>Average UK forecourt prices currently stand at \u00a31.29 per litre for unleaded and \u00a31.33 for diesel. <\/p>\n<p>Motoring fuel prices are affected by the price of crude oil. As crude oil is priced in dollars, the exchange rate also plays a part.<\/p>\n<p>In May, there were record rises in the price of petrol, largely as a result of the oil price peaking at $80 and a weakening of sterling against the dollar.<\/p>\n<p>But since the end of last month the oil price has been falling, and so have wholesale fuel prices.<\/p>\n<p>RAC spokesperson Rod Dennis said: &quot;Our data shows that it&#039;s high time retailers cut the price of petrol and diesel at the pumps - we see no good reason for them to wait before passing on savings they are benefiting from which have been brought about by falling wholesale prices.<\/p>\n<p>&quot;Motorists really felt the impact of rising in prices in May, when the cost of filling up a petrol family car jumped by around \u00a33.30 in a single month. We are now well into June, and drivers are still waiting for some relief to rising prices.&quot;<\/p>\n<h2>Price fluctuations<\/h2>\n<p>However, Brian Madderson, chairman of the Petrol Retailers Association, said: &quot;We are in the middle of one of the most volatile periods of wholesale price movements we have seen for some time.&quot;<\/p>\n<p>He said the retailers will reduce prices if they think they can do, and are &quot;not going to price at an insult level&quot;.<\/p>\n<p>However, Mr Madderson said that fluctuations in the dollar against sterling, plus requirements on retailers to add more biofuels to diesel and petrol, had helped push up prices.<\/p>\n<p>He added that he could only see petrol prices going up as volumes of sales fall due to the take-up of hybrid and electric cars as retailers try to maintain margins.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The RAC says the current petrol price is too high and cannot be justified. The motoring organisation is urging retailers to pass on recent falls in the wholesale cost of<\/p>\n","protected":false},"author":1,"featured_media":140350,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-140349","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english"],"_links":{"self":[{"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/posts\/140349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/comments?post=140349"}],"version-history":[{"count":0,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/posts\/140349\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/media\/140350"}],"wp:attachment":[{"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/media?parent=140349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/categories?post=140349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/freeonlinetranslators.net\/news\/wp-json\/wp\/v2\/tags?post=140349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}