The petrol price survey will only report exploding costs in the autumn

DRIVERS hoping for a quick fix to skyrocketing fuel costs will be disappointed.

Competition watchdogs’ investigation into petrol and diesel prices will continue into the autumn, leaving us counting the cost of record prices at the pump all summer long.

1

RAC fuel spokesman Simon Williams said: “The question drivers will have is how long the verification will take and, crucially, when they may see a change in the cost they pay each time they fill up. “

Business Minister Kwasi Kwarteng last month urged the Competition and Markets Authority to review pump prices amid outcry over rising fees – while wholesale prices fell.

She found “cause for concern in some parts” of the industry.

The agency’s General Counsel, Sarah Cardell, said: “We need to get to the bottom of whether there are valid reasons for this and if not, what action can be taken.”

But she insisted retailers had passed on the March 5p fuel tax cut to motorists.

The average price of a liter of petrol was 190.8p on Thursday, while diesel was 198.6p per liter – up from about 60p for petrol and 64p for diesel in a year.