Petrol prices 'to rise by 4p per litre Within The Next Few Days!!!
Petrol prices are expected to rise by as much as four pence a litre in the next few days, retailers have predicted as forecourts pass on increased wholesale costs to motorists.
The rise forecast by the Petrol Retailers Association (PRA) would add £2 to the cost of filling a Vauxhall Astra.
Brian Madderson, chairman of the PRA, said wholesale prices had risen by five pence a litre since Christmas.
"Independent retailers have been soaking up this increase at the expense of already tight margins because they know how hard the motorist is squeezed. But the floodgates will have to open soon," he warned.
According to the Association’s latest figures petrol was selling for 132.83 pence a litre and diesel 140.4 pence.
It said that "wholesale cost changes could see prices at the pump up another 4p per litre in coming days".
However the AA, which forecast a small rise of about 2.5 pence a litre, accused the industry of failing to pass on recent falls in wholesale prices to motorists as quickly as increases.
The Office of Fair Trading will decide next week whether to launch an investigation into the fuel market.
“The insight we are now getting on wholesale price movements rams home the need for this information to be out in the public domain immediately” said Edmund King, the AA’s president.
“It’ doesn’t seem fair that we get the increases but not the decreases” says Greengates Builders Merchants Accrington, Lancashire.