UK has some of the cheapest fuel prices in Europe

The Office of Fair Trading report found that, pre-tax, the UK has some of the cheapest road fuel prices in Europe.

How the UK's petrol prices compare with the rest of Europe
How the UK's petrol prices compare with the rest of Europe Credit: OFT

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Petrol prices 'no rip-off'

Fuel price rises have been driven by tax rises and the hike in the oil price, the Office of Fair Trading has reported. It says it finds "very limited evidence" that retailers aren't passing on drops in the wholesale price to drivers quickly enough.