Oil prices fall but petrol goes up

According to a recent report the price of petrol has actually risen again even though the cost of oil has decreased sharply. Data shows that oil prices have fallen by 40% recently, but despite this sharp fall petrol prices have risen by ten pence.

Recently a number of petrol stations have put their petrol prices up by around two pence per litre, which means that the average fill up is costing a pound more. This has outraged many who are already struggling to cope with higher living costs and food prices.

Motoring groups have accused the oil giants of profiting at drivers’ expense, and officials from the AA said that the price increases were ‘unbelievable, unjustifiable and totally outrageous’. The AA said: ‘These dramatic falls should be filtering their way to the pumps by now. Instead, garages are putting on 1p and 2p a litre to screw a bit of extra cash before the inevitable drop.’

It added: ‘It looks as if garages are trying to squeeze motorists before prices do drop. It smacks of profiteering. It really is outrageous that pump prices should be rising when oil is plummeting.’