AA president Edmund King believes drivers in the UK and the rest of Europe are being left "high and dry" by the lack of transparency surrounding fuel prices.

His latest comments come after the breakdown specialist revealed that many filling stations have failed to pass on reduced wholesale costs to their customers.

Although traders have been paying between 3p and 4p less for a litre of fuel in recent weeks, prices at the pumps have only fallen marginally, which suggests that retailers are making significant profits while motorists and logistics companies continue to struggle.

Mr King thinks that European drivers are unable to identify price spikes because there is a general lack of information on how the fuel industry is run.

"The Office of Fair Trading failed to recognise this in January and the government must resurrect [MP] Justine Greening's Department for Transport initiative on fuel price transparency," Mr King remarked.

Chancellor George Osborne gave UK drivers a timely boost last month, as he announced that a planned 3p fuel duty hike scheduled to take effect in September will be scrapped.