RAC reacts to today's fuel price cuts

Commenting on a cut in the price of fuel announced by at least one major UK retailer, RAC fuel spokesman Simon Williams said:

“This is excellent news for motorists just as summer has finally arrived. It should now encourage every other retailer to follow suit and lead to a much-needed ‘price cut’ chain reaction across the country.

“While the value of the pound has fallen since the election, the price of oil has also reduced, bringing down wholesale fuel costs which should rightly be passed on to motorists at the pumps.

“Unfortunately, a cut to the price of diesel is long overdue as its wholesale price has been lower than petrol’s for weeks with little reflection of this on the forecourt. Hopefully, this will be the start of greater diesel price transparency.”