The PRA has dismissed claims by the RAC that fuel retailers overcharged motorists to the tune of £5 a day for unleaded fuel during December. The RAC also claimed that such behaviour would drive the uptake of electric cars.
Government proposals to ensure resilience in the supply of oil based fuels have come under scrutiny.
Average retail prices for petrol and diesel increased during November and reached record highs with petrol at 147.72ppl on November 21 and diesel having reached 151.1ppl a day earlier, according to analysis by RAC Fuel Watch.
The health of the European refined products market is steadily improving as vaccine roll-outs continue to gather pace and demand slowly returns, but plenty of hurdles remain before the industry can breathe a sigh of relief.
Low refinery runs and firm export demand have tightened European road fuel supply this winter, even as strict Covid-19 travel restrictions returned. European refineries responded to the return of Covid restrictions by slashing runs on an unprecedented level.
Fuel prices - January 2021
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