Tag: petrol
Petrol: Supermarkets no longer selling cheapest fuel, RAC says
Drivers still getting ‘raw deal’ with petrol prices rip-off even after record decrease
Cash-strapped drivers are spending 10p too MUCH on petrol because of forecourts ‘overcharging’
CASH-strapped motorists are paying 10p too much for a litre of petrol because forecourts are “overcharging,” analysis has revealed.
Motoring organisation the RAC has accused retailers of failing to pass on the record fall in wholesale unleaded petrol prices to drivers.
The RAC has accused retailers of not passing on the recent record fall in wholesale prices to drivers[/caption]
At the end of August, the average forecourt price had dropped by 12.3p to 169.8p per litre, the largest monthly drop since records began 22 years ago.
However the RAC said they should have fallen further to around 161p.
RAC spokesman Rod Dennis said: “Twelve pence a litre is a lot to come off prices in a single month so there’s no doubt things could be worse, but in reality drivers of petrol vehicles are still getting a raw deal at the pumps.
“For whatever reason, major retailers are choosing not to pass on in full the reductions in the wholesale price of unleaded they’ve been benefiting from for some considerable time.”
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There is a strong case for the biggest sellers of petrol to cut their forecourt prices even further, reports The Daily Telegraph.
With the price at 161p, retailers would still be making a sizeable profit, the RAC said.
“Some big supermarket sites aren’t too far off charging this – but there’s a real postcode lottery out there, with prices varying wildly depending on where a driver is in the country,” the spokesman said.
At the end of August, the average price per litre of diesel was 183.7p, a “fairer reflection of wholesale costs”, the RAC said.
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The price of fuel rose dramatically this year as the price of crude oil shot up – largely due to the war in Ukraine.
A fall in the value of the pound has also added inflationary pressure on prices as it pushed up prices.
Craig Mackinlay, a Conservative MP and the chairman of the Fair Fuel all-party parliamentary group, said: “We should be seeing reductions of at least 25p per litre across all pump fuels.”
He called for the Competition and Markets Authority to investigate why retailers were not passing on savings to consumers faster.
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The RAC said motorists were getting a ‘raw deal’ at the pumps[/caption]
Man and woman taken to hospital after ‘petrol bomb’ attack on home
Drivers now saving £10.30 a tank on average as petrol prices FINALLY fall
DRIVERS are now saving £10.30 a tank on average as petrol prices FINALLY fall.
But greedy firms should drop them by at least another 15p to give a fair deal to hard-up motorists, the AA said today.
Meanwhile, thousands of drivers are being forced into debt or forced to borrow cash from friends and family as they face huge squeezes on their income, they warn.
Petrol has fallen by around 19p per litre in the last month after a record high in July of 191p per litre.
But the average price should drop to around 160p if savings are properly passed on, according to the latest AA Fuel Price report.
And millions of Brits face an unfair postcode lottery as prices wildly differ across the country and even within regions.
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Of the big supermarkets and pumps, only Asda is below 170p-per-litre, and is passing on the biggest price drops.
The drop so far is nowhere near the record fall in 2008/9 which saw a £18.60 saving for Brits filling up their cars – a fall of 34p-a-litre.
Van drivers have seen the cost of filling up fall by around 12.5p a litre – around £12.26 a tank.
There are hopes that as the US motoring season comes to an end, retailers will face extra pressure to cut costs again.
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Luke Bosdet, the AA’s fuel price spokesman said: “This is a glass half full and half empty situation for UK drivers.
“Fuel is still 37.6p a litre more expensive than a year ago (135.29p).
“In previous pump price crashes, drivers could reckon on the supermarkets racing to pass on the savings, trying to steal a march on their rivals.
“Now it’s hit and miss whether you live and drive in an area where at least one fuel retailer is prepared to bring down prices as fast as the fall in wholesale costs.”
Fairfuel Founder Howard Cox said prices should be up to 20p per litre cheaper in some places – calling on ministers to slash fuel duty again to help.
Hitting out at the profiteering firms, he blasted: “Pump profits are now at their highest, billions of extra VAT are flowing into Number 11 and the Competition and Markets Authority isn’t protecting consumers.
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“Yet again, we are seeing an inept political administration clueless as to how to solve the cost-of-living crisis.
“Cut fuel duty by 25p and create PumpWatch to finally secure honest and transparent pricing at the pumps.”