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Reading: Pump prices are “going up again” as oil reaches a two-month high.
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Baner Club > Blog > Business > Pump prices are “going up again” as oil reaches a two-month high.
BusinessEcnomics

Pump prices are “going up again” as oil reaches a two-month high.

In light of growing oil prices and complaints that drivers are still getting a raw deal, drivers are being advised that fuel prices are on the rise once more.

Last updated: 2024/07/03 at 11:40 AM
Published July 3, 2024
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1 Min Read
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On Tuesday, the news said that a 10-week trend of declining gas prices had ended.
According to the motorist organization, an increasing number of forecourts were raising pump prices because of increased wholesale and oil prices, even though average costs remained fixed at the same levels as last week.

In a different study, the RAC, its opponent, claimed that fuel and diesel prices were still “too expensive” and charged that retailers in England, Scotland, and Wales were offering their customers a “raw deal” based on wholesale trends.
Across the three countries, the average price of gasoline should be 4.5p less per litre.

Independent retailers have long refuted the RAC’s accusations of profiteering, arguing that its criticism fails to include the industry’s rising expenses for labor and electricity, among other factors.

The Competition and Markets Authority (CMA) has implemented a voluntary gasoline pricing transparency system in response to its discovery that supermarkets overcharged drivers by £900 million in 2022.

Later this year, a compulsory Pumpwatch program is anticipated to take its place, requiring forecourts to disclose their expenses.

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BanerClub July 3, 2024 July 3, 2024
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