Oil drop 'fails to benefit drivers'

16/09/11

Dan Smith

The recent drop in crude oil prices has not proven beneficial to UK drivers, according to the AA.

Research from the motoring organisation shows that petrol price cuts have yet to materialise because the pound has fallen by 7 per cent against the dollar in recent weeks.

While crude oil market prices have dropped by around 10 per cent, the AA noted that the costs of petrol and diesel are approaching all-time high levels.

AA president Edmund King said: "Current fuel prices would be worse were it not for UK supermarkets' traditional lag in passing on higher wholesale costs."

The company's figures also showed that drivers are currently being forced to pay 139.62p for a litre of diesel, while petrol costs 135.61p per litre.

The traditional downward trend which follows the end of the summer period has failed to emerge this year, it suggested.