Campaigners and MPs will demand dramatic drop in petrol prices as they urge Chancellor Philip Hammond for fair deal on fuel
They will hand over a petition signed by 53 Tory MPs and 20,000 motorists
CAMPAIGNERS and MPs will tomorrow hand demands for a petrol price watchdog to Treasury officials – as they urge the Chancellor for a fair deal on fuel.
Tory backbencher Charlie Elphicke and FairFuel UK will hand over a petition signed by 53 Tory MPs and 20,000 motorists.
They also want the Chancellor to cut fuel duty in the upcoming Autumn Statement.
FairFuel founder Howard Cox believes petrol prices should be at least 4p lower than current pump prices given the falling wholesale cost. He said: “The fuel supply chain is immorally ripping off drivers.”
Charlie Elphicke, the Tory MP who chairs a cross-party Parliamentary group on fuel, previously told the Sun: “These shocking figures show why we need an independent PumpWatch to police fuel prices and get a fair deal at the forecourt.
“We must build a Brexit Britain that works for every family, every small firm and every driver.
“A Britain that works for everyone must include a fair deal on prices.”
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FairFuel UK founder Howard Cox added: “Drivers are being ruthlessly fleeced because of avaricious businesses profiting further up in the supply chain.”
Petrol prices have leapt since the Spring on the back of the rising cost of crude oil and the sharp fall in the Pound on world currency market.
But the wholesale price has fallen by more than 5 per cent in the past month – dropping from 108.92p per litre, including tax, on October 24th to 103.14p per litre.
Pump prices remain at 116.90p per litre with all major oil giants and supermarkets yet to make any cut and pass on the lower cost. FairFuel UK believes a 4p cut is “the least we should expect”.
Two years ago the Sun’s ‘Keep It Down’ campaign was credited with slashing prices by 15p per litre by forcing retailers to pass on a huge slide in the global cost of crude.
AA chief Edmund King said: “Now that the wholesale price has dropped dramatically motorists should be reaping the benefits at the pumps.”