British motorists are still paying premium prices at the pumps, despite a significant drop-off in the price of crude oil over the past month, a survey has shown. Caravan owners planning a long-distance journey may think twice, after the AA reported that the average price of a litre of petrol in the UK is now 136.93 pence.
Last week average prices hit a new record high of 137.43 pence, but a crash in the global oil markets has seen a barrel of crude oil getting $10 (£6) cheaper for suppliers.
Despite this, the average price of petrol has fallen by just half a penny, with suppliers pocketing the difference, which is roughly 3.5 pence per litre.
Edmund King, president of the AA, said: “Although there is momentum for at least £2 to be knocked off the price of filling a petrol tank, drivers can’t forget that the same tank cost them £7.50 less a year ago.”
He added that many UK motorists are now thinking twice about taking a trip to the supermarket due to rising petrol prices, let alone taking a caravan holiday.
