RAC predicts pump prices to rise by up to two pence

Following the referendum result, the value of the pound is likely to result in higher prices at the pump despite a drop in the world crude price.

RAC Fuel Watch spokesman Pete Williams said: “It is too early to tell what the implications are in the mid to long term but it is likely motorists will see some volatility in the price of fuel on UK forecourts in the coming weeks.

"While the cost of crude has dropped as markets react to fears of a global economic slowdown, the fall in the value of the pound to levels not seen since 1985 means that retailers are today facing an increase in the wholesale price of around 1.5 pence, which will very likely be passed on to motorists at the pump.”

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The RAC is an iconic UK brand, and provides complete peace of mind to nearly 14 million UK private and business drivers - whatever their motoring needs. As well as its premium nationwide breakdown assistance service – with an expert branded patrol workforce attending more than two million breakdowns every year – and European breakdown assistance products, it offers a wide range of market-leading products across insurance, legal services, vehicle inspections and service, maintenance and repair. Included in this is the first-of-its-kind nationwide Mobile Mechanics service which brings the garage to homes and workplaces. 

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