Greedy retailers urged not to raise fuel price again amid oil giants cutting output

GREEDY retailers have been urged to resist raising the price of fuel again despite pressure from oil producers cutting output.

Drivers were warned of a jump of up to 5p a litre after Saudi Arabia, Iraq and others decided to slash supplies to drive up wholesale costs.

Supermarkets and filling stations were told not to use Opec’s move to cut one million barrels a day as a smokescreen to

Campaigners said they were already raking it in by not passing on fuel price falls.

Petrol is 20p cheaper than in November, saving £11 for a basic 55-litre family car. Diesel has fallen 27.5p, saving £15 a tank.

Yet diesel, despite being 3.5p cheaper wholesale, is still 16p costlier than petrol at the pump.

The RAC’s Simon Williams said: “Despite the oil price increasing by $5 in a day to $85 on the back of news of a production cut, there’s no justification for major retailers to raise pump prices.

“We should be seeing diesel advertised at around 150p rather than the current 162.5p mark.”

The AA’s Luke Bosdet said: “If the fuel retailers think the oil price hike provides a smokescreen to hide what they’re doing with diesel pump prices, they’re seriously mistaken.

"The road fuel trade needs to stop fleecing ­drivers and small businesses that buy diesel at pump prices.”

Howard Cox, of campaigners FairFuelUK, said the world was being held to ransom by Opec.

He said: “With unchecked pump pricing still reigning supreme and Opec’s decision, drivers can expect prices to rise again.

“The Government must introduce PumpWatch to track prices."