European Union calls for inquiry on rising fuel prices

A European Union inquiry has been called for after the latest AA Fuel Price Report found that the price of petrol in the UK had risen by more than one and a half times the current rate of inflation between mid January and mid February.

Up 4.28p a litre, petrol now averages 90.88p per litre compared to 86.6p a month ago. This has added 2.14 to the cost of a 50-litre tank refill.

Diesel drivers have seen the average price of their fuel rise 2p, putting the cost of a litre back above a 1 at 100.79p.

However, for the first time since last April, the lower pace of increase has reduced the petrol-diesel price differential to nearly 10p and improved the benefit diesel drivers get from using a more fuel efficient fuel, compared to petrol.

An AA spokesman said: "Drivers, who see recession, a collapsed oil price and falling inflation, are irritated by pump prices that continue to go up at a rate they associate with the soaring prices last year. European motoring clubs have run out of patience and written to the EU competition commissioner calling for an inquiry. Greater transparency in fuel pricing is long overdue."

Source: AA

Credits: Jarvis