Fuel prices for motorists

That this House recognises the challenging impact of high fuel costs on households and business across the UK; notes the comments of the RAC and their belief that petrol retailers are ripping off motorists by refusing to pass on wholesale price cuts; expresses concern at the RAC's findings that this has resulted in motorists being overcharged by £5 million a day in December as retailers made an average of 16 pence a litre on petrol instead of the normal 6 pence; and calls on the Government to explore the creation of an independent pricing watchdog to protect motorists from overcharging at the pump.