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RMIP slams profiteering jibe by AA

03 March, 2011
Page 4 

RMI Petrol has slammed the AA's latest claims that UK petrol retailers are profiteering from rising fuel prices, following publication of the association's Fuel Price Report, published yesterday.

 

The AA claims that European petrol prices have dropped in line with wholesale reductions but UK prices continued to rise, highlighting a need for transparency in UK prices, adding that had a 2p drop in the market cost of petrol been passed on to the consumer, it would have wiped out most of the impact of January's VAT rise, reducing inflationary pressure and the possibility of an interest rate rise.

 

Brian Madderson, chairman of RMIP, said: "We question the relevance and accuracy of the AA's comparison between euro currency zone costs and pricing with the sterling-influenced UK market."