Petrol and diesel pump prices set further records over the weekend, heightening concerns of profiteering among fuel retailers.

The RAC has said it’s struggling to see how retailers can justify continuing to put up their unleaded prices as the wholesale cost of petrol has reduced significantly

RAC data shows a litre of unleaded broke records again when it averaged 191.05p on Sunday, taking a fall tank over £105.

Diesel also reached another high point on Saturday with an average price of 199.09p, which makes a full 55-litre family car fill-up £109.42.

The RAC said it was struggling to see how retailers can justify continuing to put up their unleaded prices as the wholesale cost of petrol has reduced significantly.

“This is sadly a classic example of ‘rocket and feather’ pricing in action, and one which the Competition and Markets Authority will no doubt be looking at very closely,” said fuel spokesman Simon Williams. “It seems as if retailers are making matters worse for themselves by not lowering their forecourt prices despite having a clear opportunity to do so.”

The RAC also noted that the price of wholesale diesel, which had been on a rising trajectory due to the move away from Russian imports, has “cooled”.

“This could yet prevent its average price from hitting the £2 a litre landmark. But, as always, that will depend on how fairly retailers reflect the reduction in its wholesale price on their totems,” added Williams.

He continued: “The only explanation of retailers’ resistance to reducing prices is that they’re protecting profits in case of wholesale costs suddenly going back up. Ultimately, the longer they hold out, the more they benefit and the longer the misery continues for drivers struggling with the high prices.”

The AA meanwhile warned of the continued impact of the rising prices on summer staycations, industry, haulage and inflation.

Edmund King, AA president, said: “The Government needs to urgently take action on price transparency and cut duty levels.”

RAC fuel data: