Campaigners call for petrol review as 4p price rises are predicted

Rebecca Rutt
by Lovemoney Staff Rebecca Rutt on 28 January 2013  |  Comments 11 comments

Fuel campaigners are calling for a full investigation by the OFT into petrol prices.

Campaigners call for petrol review as 4p price rises are predicted

The price of petrol may be about to shoot up by 4p per litre, the Petrol Retailers’ Association (PRA) has warned.

This is because in the four weeks since Christmas, wholesale petrol prices have increased by 5p per litre. This is despite a month of arctic weather which has cut fuel demand across northern Europe and refinery chiefs complaining about a ”glut of petrol capacity”.

The group is calling for a full investigation by the Office of Fair Trading (OFT) into petrol prices as it says there needs to be greater transparency when it comes to wholesale price rises.

OFT review

Brian Madderson, chairman for the PRA, says petrol retailers are forced to put prices up, because of rising wholesale costs, when there is often little explanation from wholesale providers as to why prices are rising when demand for petrol is falling.

The AA is also urging the OFT to conduct a full review into this industry. Its president, Edmund King, says the upcoming pump price rise is due to the industry failing to pass on wholesale price savings.

Wholesale petrol prices increased in the first week of January, and were followed six days later by average pump prices of around 1p per litre. But King argues that falls in wholesale prices are never reflected in forecourt prices as quickly.

The OFT will announce this week if it'll go ahead with the review or not.

Price variations across the country

The price of petrol still varies across the country, with those in Newbury for example paying 5p more a litre for petrol at the supermarket than neighbouring town Reading.

In January, Yorkshire and Humberside remained the cheapest areas in the UK for petrol, with an average of 132.1p per litre at the pump while Northern Ireland was the most expensive at 139.7p.

How to save money on petrol

Although there is little we can do about rising wholesale prices, you can save money on petrol by making a few changes.

Websites such as petrolprices.com will show you the cheapest filling stations in your area. Getting rid of extra weight from your car, such as roof racks or unnecessary luggage will also cut costs as a 100kg load can reduce mileage by around 5 miles per gallon.

Our article on how to find the cheapest diesel and petrol prices is stacked full of more helpful tips to save you money on your vehicle.

More on petrol:

Up to two million drivers face £1,000 fine

The most popular car of 2012

Five ways to make money from your car

How-to Guides » Beat the petrol price hikes

25 ways to cut your car insurance

Car insurers are cheating older drivers

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Comments (11)

  • Tanni
    Love rating 92
    Tanni said

    Why not start the investigation with the cartel known as OPEC?

    Report on 28 January 2013  |  Love thisLove  0 loves
  • Clive_Windsor
    Love rating 53
    Clive_Windsor said

    Why not start the investigation with the cartel known as the Coalition Government and the previous government? Taxes are the largest proportion of petrol and diesel prices.

    In the US where gas price cuts from indigenous shale gas have wiped more than 20% off gas/electric prices, they are now turning to liquifying the gas for use in cars. The UK has so much shale gas as to dwarf many of the US shale beds.

    Report on 28 January 2013  |  Love thisLove  5 loves
  • MK22
    Love rating 169
    MK22 said

    Supermarkets hold 48% of petrol sales and 44% of diesel (April 2012 so its probably higher). So who are OFT going to investigate??

    Report on 28 January 2013  |  Love thisLove  0 loves
  • electricblue
    Love rating 769
    electricblue said

    LPG is still virtually half the price of petrol in the UK, so why a daft comparison with the USA? Taxes on petrol and diesel paid to the government are perfectly transparent and similar throughout Europe so why would that even be a political issue?

    OPEC is a cartel which prmarily operates to balance production and prevent any state distorting prices by over or under production. OPEC does not set wholesale prices as such and the supermarkets certainly don't. All commodity prices have been distorted by international speculators with particularly terrible results for world economies over the last five years.

    Report on 28 January 2013  |  Love thisLove  0 loves
  • publicspirit
    Love rating 57
    publicspirit said

    Electriclube seems to think that extortionate petol & diesel taxes are fine just because they are "transparent." This is a complete socialist nonsense. Government legalised robbery is not fine to most.but I am all in favour of a voluntary tax paid by those like electricube who obviously suffer from a tax addiction.

    Report on 29 January 2013  |  Love thisLove  5 loves
  • majortruth
    Love rating 208
    majortruth said

    Cheap abundant energy is the enemy of the watermelon left. Petrol and diesel can also be produced from coal and we have 300 years of that black gold beneath our feet along with the shale gas bonanza (which it seems is more viable to extract).

    Instead of doling out endless foreign aid to third world dictatorships and paying rich land owner huge subsidies to accommodate worthless wind follies, OUR government should be cutting taxes on petrol and also dropping the ridiculous carbon taxes on our people. The LibCon, little different to the Labcon, is not looking after our best interests as UK citizens but worshipping green ideology and self-defeating giveaways in foreign aid.

    If LPG is really so cheap, why does the electric poster think there are not more LPG cars on the road and suppliers in the UK? I am not sure that the poster who mentioned liquid fuel from shale gas meant LPG anyway as there are processes to produce petrol from coal and gas. The Germans used them in WWll.

    Please note: watermelon lefties are green outside, red inside...:-)

    Report on 29 January 2013  |  Love thisLove  5 loves
  • jamiecfc1
    Love rating 42
    jamiecfc1 said

    Come on guys, if the oil price doesn't go up how will all our Arab-owned (or invested) Premier League clubs be able to afford all those inflated wages? Just remember at least 5p per litre goes into the pocket of Mario Balotelli and his ilk. Money well spent I'm sure you'll agree....

    Report on 29 January 2013  |  Love thisLove  0 loves
  • Tanni
    Love rating 92
    Tanni said

    @electricblue...I'm sure this geezer is a Tory whip as he never seems to add to a debate rather he just likes to criticise. What a character that thinks being in the top twenty is better then aiming to be number one.

    19th January 2013. Here is a polite reminder from our previous chat. Electricblue Yet to understand any issue raised let alone address it! Funny guy.

    @electricblue. Keep blowing your own trumpet as it'll make you feel wanted and rather smart.

    No one is reinventing banking...he's replicating exactly the same way the banks create money from thin air. Yes money from nothing. You have no idea about money creation, manipulation of derivatives or anything that's not reported on the BBC or Lovemoney. It's people like you who have whilst your greed inspired slumber allowed this country to be robbed of its sovereignty and wealth. Read on.

    Understand what is common law. What is commercial law and what is the UK. Who is governed by these laws.

    This Roger Hayes, the chap who you claim was arrested for not paying his council tax; he actually is a highly trained individual and leads many thousands of people in a group called The British Constituiton group. He was arguing a point in common law, the law of the land. Learn to understand what is learning before preaching otherwise you will only learn that even when you think you are right...you will be wrong as you are closed to understanding and humanity.

    You claim to do a lot for free. Maybe you have forgotten about the people, millions of people who have died without reward; all to protect this country and it's constitution. This same constitution gives you your rights....rights to abuse and mock people aren't in there but we'll let that go.

    Your arguments never offer an alternative. Rather you mock and abuse with word play....you'd make a good liberal/tory/labour puppet I mean politician or newsreader/jouranalist lol.

    This Roger Hayes argued,successfully, his point in law. Do you know how he was arrested? Like a terrorist. He was held for arpund 21 days whilst being intimated and bullied? Checkit out. Do you know how many court cases and hearing were attemded...loads! Do you know that the judge in the case was willingly not applying common law or reading his oath to enforce common law?

    This whole matter relates to rights of freedom,liberty and constitutional law.

    The point being that no one has to pay the council tax. This nation is run on emergency tax measures imposed during our tiff with our American cousins during the civil war. These tax measures were supposed to be temporary but have taken a permanent hold. That's breaking news to you...300 years later!

    The UK is a company...yes read your history and understand marine and mercantile law. Then figure out that the queen and her courts are supposed to protect us under common law, yet the courts use statutes derived from laws applicable to commerce and non human entities ( companies). Humans take priority over companies...breaking news again for you.

    As a company who is bust since 1914 the laws and enforceable powers of this countries legal system are under emergency powers?..you know that a bankrupt or insolvent business cannot trade like a solvent entity...particularly when it comes to enforcing tax laws that are unconstitutional and against the very law that it uses to prosecute....boom straight over your head. The UK is this company.

    Do your research and like I keep saying...have an open mind and understand your history. Don't think I'm having a go at you, on the contrary I'm explaining and reminding you that there is a bigger world out there then the BBC or parliament channel.

    I wonder if you ever checked out Max Keiser does Westminister? Probably not as it wasn't on the BBC.

    Sir you need to understand that the history and reality you live in is a false reality as dictated to you by bullying media and corporations including our incompetent political leaders.. The reality is that banks are too big to fail and dictate along with multinational corporations how our world,our country should be run and how you should think and live! Another breaking news story!

    Read the definition of sovereign and freedom. Understand that definition and it's implications in reality..This nation is not sovereign as we have handed over powers to EU and UN and World Bank IMF. Try to get a grip with reality rather then be stuck in a cocoon of doctrinal bull pooh fed to you by the world you think you live in. This may go straight over your head...but that's ok as its common for sheeple and zombified clever people who are too foolish to think. Wake up and think for yourself rather being told what and how to think.

    The reality is that the hard fought freedoms of the constitution have all but been erroded whilst people like you sit smugly thinking they've made a difference...a difference? nada nada ba ba sheep.

    Read the definition of sovereign and then argue your point ; the banks are brilliant, its brilliant to to be in the top twenty rather then be number one? Its brilliant to have homes repossesed, brilliant to have students paying for thier education, brilliant to have business dictate what is good for our country, brilliant to have sold this nation down the pan, brilliant that we are in recession, brilliant we are fighting wars for other countries, brilliant we rely on other countries for our growth and food, brilliant that the population is a commodity that is paying for the bail outs...its called economic slavery!

    Wake up as life as you know it is not brilliant..step outside the cocoon of false reality and pinch yourself...start thinking for yourself rather then being influenced to think what corporations want you to think...all is fine and you are making a difference...you make me laugh not.

    This is no conspiracy but mere facts which deluded individuals cannot see. You are not free....just the fuse in the brain is free/loose which makes you think you are free.

    Your words do not offend me, rather I amuse at the arrogance and ignorance of so called smart people who are lambs and sheeple to the slaughter....ba ba away electricblue...sing the blues even.

    Definition of sovereign. understand what is money creation ( how banks create money and derivatives from thin air literally ). Understand your Constituiton and read your bill of rights. Understand common law and commercial law. One law for humans...one for business.

    That's enough to keep you going for atleast six months.

    Report on 30 January 2013  |  Love thisLove  2 loves
  • electricblue
    Love rating 769
    electricblue said

    @Tanni

    You need serious medication.

    Report on 30 January 2013  |  Love thisLove  0 loves
  • Tanni
    Love rating 92
    Tanni said

    @electricblur

    Lol ;-)

    Report on 30 January 2013  |  Love thisLove  2 loves
  • Tanni
    Love rating 92
    Tanni said

    @electricblue still avoids the point....your new petname is electricblur gangnam style....no style like John majors mushy peas. No offence to the mushy peas who are full of useful nutrients!

    Report on 30 January 2013  |  Love thisLove  2 loves

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