Fuel retailers have suggested rising prices at the pumps are due to "speculation" by traders in the wholesale market.
Petrol prices have been going up after more than three months of falling costs at forecourts, with the AA accusing retailers of failing to fully pass on a 2p fall in diesel wholesale costs in November and December that, with VAT, were worth 2.5p at the pump
But the Petrol Retailers Association (PRA) said the hike in petrol costs was due to an unexplained leap in wholesale prices of 5p a litre since Christmas and warned that wholesale cost changes could see them go up by another 4p in coming days.
It comes ahead of a review by the Office of Fair Trading (OFT) into whether reductions in the price of crude oil are being passed on to motorists.
Brian Madderson, chairman of the PRA, said: "We cannot explain to our customers why the wholesale price is going up so much – it is not due to Government tax, it is not due to Brent crude going up and it is not due to the weak currency exchange.
"So are traders, bankers or speculators taking British motorists for a ride?"
Mr Madderson accepted retailers had failed to pass on the 2p fall in diesel wholesale costs ahead of Christmas, but said that was due to the "horrendous time" they had during the summer.
Edmund King, president of the AA, said: "Another new year, another new round of pump price rises after the industry failed to fully pass on wholesale price savings."
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