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Motorists fume at ‘profiteers’ as price of petrol goes UP despite huge falls in oil price

Posted By admin On September 18, 2008 @ 3:43 am In Money Watch | Comments Disabled

Ray Massey
UK Daily Mail [1]
Thursday, Sept 18, 2008

Petrol prices are increasing despite huge falls in the cost of oil in recent months.

In the past few days prices at some petrol stations have increased by 2p a litre – or nearly 10p a gallon – adding £1 to the average fill-up.

It comes at a time when wholesale oil prices have dropped by nearly 40 per cent since July and the wholesale cost of the petrol and diesel is down 30 per cent.

Motoring groups accused the oil giants of profiteering at drivers’ expense.

(Article continues below)

The AA called the price rises ‘unbelievable, unjustifiable and totally outrageous’.

It revealed that the average price of petrol rose from 112.88p to 112.91p a litre – with some petrol stations charging much more.

Yet this week alone, the wholesale cost of petrol has dropped by about 10 per cent and the cost of oil has plummeted below $90 a barrel, from a high of $147 in July.

AA spokesman Luke Bosdet 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.

Full article here [1]


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URLs in this post:

[1] UK Daily Mail: http://www.dailymail.co.uk/news/article-1057392/Petrol-prices-STILL-soaring-despite-oil-costs-plummeting-40.html

[2] Petrol price ‘rigged for a decade’: http://www.prisonplanet.com/petrol-price-rigged-for-a-decade.html

[3] Supermarkets cut petrol prices just as oil cartel votes to CUT production by 1.5m barrels per day to boost flagging value: http://www.prisonplanet.com/supermarkets-cut-petrol-prices-just-as-oil-cartel-votes-to-cut-production-by-15m-barrels-per-day-to-boost-flagging-value.html

[4] Was the petrol price rigged too?: http://www.prisonplanet.com/was-the-petrol-price-rigged-too.html

[5] Petrol Hits $9 A Gallon In UK: http://www.prisonplanet.com/petrol-hits-9-a-gallon-in-uk.html

[6] Motorists’ fury as fuel giants Shell and BP make £4m profit every HOUR: http://www.prisonplanet.com/motorists-fury-as-fuel-giants-shell-and-bp-make-4m-profit-every-hour.html

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