Diesel Prices to see Significant Price Increase
Thursday 26 January 2012 Back to Blog
Motor Industry Petrol (RMI Petrol) is an organisation which represents petrol retailers and forecourt operators.
They have issued a warning that due to the wholesale price rise in the cost of fuel over the Christmas period, the cost of diesel could rise significantly.
According to reports, recent fuel price increases have happened very quickly and few retailers have been able to react and subsequently pump prices have remained consistent. Now the dust has settled the price especially of diesel will rise. RMI Petrol are concerned that diesel which is already costing 141p per litre, could rise to 145p per litre in the next few weeks. This will eclipse the record high in May of last year when the price rose to 143p per litre.
Brian Madderson chairman of RIM Petrol said: "This is a very worrying development but not entirely unexpected. I wrote to the Chancellor on 2 January highlighting the serious supply issues ahead and enclosing a report 'the case for reform of fuel taxation' as it is the Government's only direct control over rocketing fuel prices which are undermining society and our economic recovery."
Fuel costs have been driven upwards recently by Middle Eastern conflicts, tension between Iran and the Western World, and refineries in Europe going to the wall or cutting production to save costs.
The cost of fuel is already seen as too high by motorists in and out of the commercial sector and the new warnings from RIM Petrol will see stress levels for fleet mangers and owner drivers increase.