RAC: Derv prices must come down

30/10/2008

After profit reports from BP and Shell showed the two firms have made billions of pounds on the back of high oil prices, the RAC has called for DERV and petrol prices to be slashed by 10p a litre.

Such is the claim of the Daily Express, which has quoted RAC spokesperson John Franklin as saying that BP's third-quarter results certainly justified making such a cut.

"It seems like just another kick in the teeth for motorists who have seen sky-high prices for the past year," he said.

Released earlier this week, company data showed that BP made £6.4 billion in the third quarter of this year, amounting to an additional £70 million a day on last year's takings.

The soaring profits have widely been attributed to the high oil prices seen earlier this year, which have in turn pushed petrol and DERV prices up.

In other development, Royal Dutch Shell, Europe's largest oil and gas firm, has announced that its profits increased 71 per cent during the same period.