Friday, 6 June 2008

Drivers pay price of great diesel 'rip-off '

Millions of drivers are being 'ripped-off' by oil firms which have not passed on a 10% drop in diesel prices.
The AA said the savings should be worth around 7p a litre at the pumps. And it warned that it will call on the Government to investigate if diesel prices continue to climb.

Energy experts Platts said the wholesale price has significantly fallen in the past fortnight.

On May 23 - the day after oil hit a record $135 a barrel - diesel was selling at $1,342 a ton, but yesterday the price had dropped to $1,203. On May 23 the average cost of a litre of diesel was 126.7p per litre. Yesterday it stood at 129.9p.

Andrew Bonnington, a spokesman for Platts, said: 'The wholesale cost of diesel cargo delivered into the UK has fallen by 10% in two weeks.' The union Unite accused Shell of 'profiteering' after the company announced record profits of nearly £ 14billion in January.

Shell denied the claim. The AA said disquiet over rising prices would prompt anger from millions of diesel car drivers if the drop in price was not passed on.

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