A spat has broken out between the UK's two largest motoring bodies over the soaring cost of petrol.
The AA criticised its rival the RAC for playing a part in soaring fuel prices as average petrol rates climbed more than 2p in a day to over £1.80 a litre – the largest daily increase in 17 years – on the latter’s Tuesday warning of further hikes to come.
Although the Ukraine war has been by far the biggest driver of unprecedented prices at the pump, the AA also blamed the RAC’s “reckless speculation,” that motorists should prepare for £2 a litre prices and for the most significant hike since 2005.
Luke Bosdet at the AA said: “Reckless speculation is leading to rip-off prices at the pump.
“Yesterday’s more than 2p-a-litre leap in average UK petrol prices is a huge shock and fuels concern that speculation of a £2 litre just gives the fuel trade licence to pile on extra cost and the misery.”
RAC, one of the two main motoring organisations in the UK along with the AA, brandished the alert in response to Goldman Sachs (NYSE:GS) forecasting average oil prices to surge to US$135 a barrel for the remainder of 2022.
A RAC spokesman hit back, countering the allegation by claiming retailers determined their prices on wholesale costs rather than speculation.