Fuel prices unfairly high – RAC
- 25 July 2022
- Posted by: Alan Feldberg
- Category: News
The RAC believes that less than 10% of UK forecourts are charging a fair price for petrol and diesel.
According to analysis of Experian Catalist data by the RAC Fuel Watch, just 407 of more than 4,500 forecourts have priced fuel fairly, with the vast majority of those being independent garages.
The RAC believes that retailers should be charging nearer to 174p for a litre of unleaded to reflect wholesale prices over the last two weeks, well below the current average of 188p. Only 157 petrol stations are selling a litre at between 170.9p and 179.9p, 125 of which are independent.
The situation is similar when it comes to diesel, with the current average price of a litre standing at 196p, which is 7p more than what the RAC thinks it should be according to wholesale prices. Further analysis found that 250 are selling diesel for between 180p and 189.9p per litre, of which 192 are independent.
RAC fuel spokesman Simon Williams said: “Weekly wholesale petrol prices – that’s the price retailers pay to buy the fuel – have fallen by a massive 17p a litre, from a weekly average of around 152p at the start of June to just 135p this week. Yet average pump prices have reduced by a paltry 4p. It’s time for every retailer to do the right thing and cut their prices to more reasonable levels.
“Our analysis of this new data shows something else that is very telling. It appears to be the case that it’s no longer the big four supermarkets that lead on price, but instead smaller independent sites that are prepared to buck the national forecourt trend.”