Mubaloo, a company who creates and develops business applications for smartphones, has introduced a new version of the Fuel Prices UK application for iPhone and iPod touch in association with the AA.

The AA’s Fuel Price App allows users to access unlimited, up-to-date fuel prices across London and the rest of the UK.

The fuel prices are provided by Experian Catalist in association with ARVAL Ltd, with data coming from monitoring the hundreds of thousands of Arval fuel card transactions which take place daily across the UK – promising the most up to date nationwide coverage.

The application works by identifying your location. The AA Fuel Prices checks the 10 closest fuel stations and then ranks the cheapest five. The results are colour coded - green is the cheapest, red the most expensive. Once the cheapest one has been selected the app will provide directions to the selected petrol station.

Available from the Apple iTunes App Store, AA Fuel Prices costs £4.99 on an annual subscription basis and requires the iPhone 3.0 Software Update or later.

A detailed Macworld Mubaloo profile is available here.