Forecourt Trader - 30 years at the heart of the fuel retailing community

PRA and RAC clash over views on future fuel prices

01 June, 2016
Page 4 

Conflicting predictions about fuel prices have been released with the PRA warning they are set to continue rising into the summer, while the RAC said the upward trend was likely to stabilise. PRA chairman Brian Madderson said the increasing cost of oil, with Brent crude oil having risen 80% since January of this year, was not yet fully reflected in prices at the pumps.

Commenting on reports that Brent Crude Oil was close to $50 per barrel, Madderson said: "It is remarkable that the increase in wholesale fuel prices have not yet fully reflected this year's fast recovery in crude oil."

UK fuel prices have only risen by 6%, from 102.70ppl to 109.00ppl by mid May.

But RAC fuel spokesman Simon Williams said: "Reports that the US crude stockpile was at last diminishing was thought to be a signal that the supply glut which has given us cheaper fuel prices was coming to an end. However, US crude supplies have actually increased again rather than shrunk so there is now talk that the market has risen too far, too quickly. This could well help to take some of the heat out of the oil price."

  • Weekly
  • Weekly
  • Daily
Weekly retail fuel prices: 19 August 2019
RegionDieselLPGSuper ULUL
East Midlands132.1066.40141.37129.07
North East130.85144.25128.58
North West131.60139.66128.82
Northern Ireland129.13134.50126.35
South East132.8662.50141.62129.81
South West132.24138.89129.06
West Midlands131.8660.90141.24128.98
Yorkshire & Humber131.40140.49128.65

Most read

As the Government is urged to publish its plans for E10 by the All Party Parliamentary Group (APPG) for British Bioethanol, would you welcome the introduction of E10 as the right next step in cutting automotive carbon emissions?