Forecourt prices for petrol and diesel have fallen back slightly but remain very high, according to the RAC.
The motoring organisation called for the chancellor to cut fuel duty in this week’s Spring Statement.
On Monday, the average pump price for a litre of petrol was 166.6p, down from 167.0p the day before, according to figures from data firm Experian Catalist quoted by Sky News.
The average price of a litre of diesel dropped from of 179.0p to 178.7p over the same period.
RAC fuel spokesman Simon Williams noted that Monday was the first day this month where average fuel prices did not reach new record highs.
“Prices steadied with very slight reductions in both petrol and diesel perhaps indicating that retailers may have finished passing on their increased wholesale costs for the time being,” he said.
The wholesale price of petrol for retailers currently stands at £1.30 and diesel at £1.48.
“With prices this high before retailer margin and 20% VAT are added it’s clear we are in a tough place when it comes to being able to afford to drive,” Williams added.
“This is why it’s crucial the chancellor takes decisive and meaningful action in his Spring Statement that helps hard-pressed drivers and businesses.”
Newspaper reports suggest that Sunak is considering a temporary cut in fuel duty of up to 5p per litre.
