Fuel prices ‘must fall’ as oil dips below $70: Campaigners accuse suppliers of ripping off motorists at the pumps
Petrol stations have been encouraged to slash fuel prices after oil fell below $70 a barrel for the first time since April.
Campaigners said unleaded was on average 5p a litre more expensive than it should be while diesel was 3p steeper than necessary.
They accused ‘greedy’ suppliers of ripping off motorists at the pumps.
Fuel rip-off: Campaigners said unleaded was on average 5p a litre more expensive than it should be while diesel was 3p steeper than necessary
The price of crude fell as low as $69.13 a barrel having been trading at almost $71 earlier in the day.
Oil has lost around 20 per cent of its value since reaching a four-year high above $86 a barrel last month.
But fuel prices have remained elevated.
The average price of a litre of unleaded petrol has fallen from a high of 131.58p in mid-October to 129.78p while diesel is hovering above 136p, according to The AA.
Howard Cox, founder of the Fair Fuel UK campaign, said: ‘We are already the highest taxed drivers in the world because of the greed of the government.
‘Pump prices should be, for petrol, 5p lower and diesel 3p lower.’
It is hoped that a supermarket price war will drive down prices at the pumps in the coming weeks.