Fuel price rises 'harder to swallow' as savings are not passed on, RAC says

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Motorists should feel aggrieved at two-year high fuel prices, a motoring organisation has claimed.

Petrol and diesel increased by an average of 2p per litre at the pumps last month despite the wholesale cost of unleaded staying the same and diesel reducing, according to the RAC.

A litre of petrol now stands at 120.01p while diesel is at 122.30p, up from 111.17p and 111.93p respectively in August last year.

Filling up a 55-litre family petrol car is now £9.53 more expensive than a year ago, with diesel vehicles costing £11.69 more.

RAC fuel spokesman Simon Williams said: "In the last two months 5p a litre has been added to the pump price of both petrol and diesel, which means the cost of filling up is really starting to hurt motorists again.

"But the January rise is harder to swallow as there is a saving from wholesale prices that retailers should be passing on a little faster than they are.

"As the wholesale price stands currently we would be expecting to see average prices come down by over a penny a litre in the next fortnight."

Higher pump prices have been driven by a rise in the cost of oil to 54 US dollars and the lower value of the pound against the dollar.