The Road Haulage Association closely monitors the relationship between the barrel price of oil and the corresponding pump price of diesel. While oil prices have fallen by 13% since the end of July, it appears that forecourt prices have hardly changed at all.
Petrolprices.com quotes the national average pump price for diesel as at Tuesday August 9 to be 140.60ppl. However, market data indicates that this should be a penny lower.
“When the barrel price goes down, it takes approximately two weeks for the drop to be reflected at the pump”, said RHA Chief Executive Geoff Dunning. “On that basis, we expect to see the pump price drop by 5 pence per litre within the next week.
“If this does not happen, we will want to know why. This situation is hurting UK hauliers and their customers; it’s also hurting every member of society. High fuel prices mean high food prices. You can’t have one without the other.”
For more information: www.rha.uk.net