Stock market 'raising fuel costs'

The falling pound and stock market speculators are driving up the cost of petrol, according to the AA. The price of petrol at the pumps has gone up a further 1p in the last five days. The Chancellor says he has "taken action."

View all 7 updates ›

Chancellor 'should consider' cancelling September fuel rise

This is the third 10p-a-litre wholesale price surge in 11 months, given extra vigour by currency speculators betting against the pound.

Given the lashing motoring families and UK businesses are taking from speculator-driven fuel prices, we hope the Chancellor spells out clearly in the forthcoming Budget that he can feel the pressure rocketing fuel price inflation places on families and business, and that he will cancel the September rise if that strain is too great.

– EDMUND KING, THE AA

More top news