Petrol prices have hit another record high, meaning it now costs more than £90 to fill up a family car with petrol, the RAC Motoring Group has said.
The average price of a liter of petrol rose to 163.71p on Monday and diesel also hit a new record at 173.68p.
The war in Ukraine triggered an increase in oil costs, but prices have fallen recently, which has lowered wholesale costs.
The RAC has said it is “vital” that fuel traders begin to take account of falling wholesale prices at forecourts.
RAC fuel spokesman Simon Williams said even though petrol prices were at record highs, drivers should be “encouraged” by the drop in oil and wholesale prices.
“It is now vital that the largest retailers, who buy fuel the most, take these reductions at the pump into account to give drivers a much-needed rest from the pain of ever-rising prices,” he added.
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According to the AA, the wholesale price of gasoline has fallen 12.8 per liter since Wednesday.
The AA’s Luke Bosdet said: “We should see these record prices level out and fall again later this week. If not, MPs, deluged with complaints from angry voters, will have to ask questions in Parliament.
“The government is under severe pressure from the cost of living crisis. They don’t need fuel trading to cushion a potential drop in pump prices.”
Oil prices soared following Russia’s invasion of Ukraine, with the price of Brent crude – the global benchmark for prices – at times hitting a near 14-year high.
However, oil prices have fallen in recent days as worries of further supply disruptions have eased.
Brent crude fell more than 5% to trade at around $101 a barrel on Tuesday.
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