Petrol companies are failing to lower prices despite the cost of crude oil falling to its lowest level since April.
The cost of oil has recently dropped to $106 a barrel after hitting its $147 peak in July. Despite this, motorists have seen the cost of unleaded petrol decline at a much slower rate.
During this same period unleaded petrol has come down from 119p a litre to an average price of 112p a litre.
The AA says they have "serious concerns" that the petrol companies and retailers are not lowering their prices accordingly with the decrease in oil prices.
They believe that drivers are being overcharged around 1.7p a litre, resulting in the average driver paying up to £18 a month too much.
Luke Bosdet, from the AA, said: "Customers are beginning to ask 'what the hell is going on?' The oil price has plummeted but petrol is going up again."
"We were told it that it takes four to six weeks for the low oil prices to make its way to the pumps but now it’s got there we’re still around a penny shy."
One of the reasons for the slow decline in petrol costs is that the Government takes 50.35p worth of duty for each litre sold.
As well as this the current poor state of the sterling means British petrol retailers have to pay much more for fuel.
Parker's monitors the price of fuel at the major supermarkets so you don't have to. Do you know who's offering 5p per litre off?
