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26 Aug 2010

That is, will petrol prices rise in the next few months, or won’t they, and by how much?Motorists were thrown into disarray early last week when the leading association of petrol retailers predicted that the cost of filling up at the pump would rise by three per cent by the August Bank Holiday weekend.

The Retail Motor Industry Independent Petrol Retailers Association (RMI Petrol) made this announcement on 10 August.However, according to a report by the Press Association, new figures from the AA suggest these earlier fears, certainly in regard to August Bank Holiday price rises, may be false.

On the one hand, if true, this is great news for panicking motorists who are already shelling out for some of the most expensive fuel in Europe; at least they’re not facing a sharp jump in the coming fortnight.  On the other, all this speculation cannot be good for driver or fleet manager stress.

The AA’s report didn’t let motorists completely off the hook however, as the organisation admitted the north-south divide for fuel prices is growing wider, with the gap between average petrol prices in the north and south currently standing at 1.7p a litre, compared to 0.9p a litre in May.

Just one more interesting point – AA said nothing about the other RMI Petrol prediction that the price of petrol at the pumps may rise by as much as eight per cent by early 2011. We will have to see what happens.

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