RAC calls for 2p cut in fuel prices

Supermarkets should cut at least 2p per litre off the price of petrol and diesel amid falling wholesale costs, according to a motoring organisation.

The RAC claimed there is scope for a reduction in pump prices because the cost of a barrel of oil has plummeted to $61 – the lowest price since mid-november last year.

It warned that a fuel price cut of up to 2p per litre by supermarkets last week only reduced their UK average by 1p because of regional pricing models.