UK diesel prices highest in Europe

Wholesale costs have continued to fall since April but fuel prices remain stubbornly high, according to data revealed by the RAC.

Its Fuel Watch found that a litre of petrol, which currently averages 146.28p across the UK, is 5p more expensive than in Northern Ireland, while the situation for diesel is even worse as the UK average of 151.5p is 10p more than is charged in Northern Ireland.

Diesel prices in the UK are now the most expensive in Europe, while average retailer margins are currently 14p on petrol and 16p on diesel.

Fuel prices

RAC head of policy Simon Williams said:

“Our data clearly shows that pump prices haven’t fallen in line with the reduction in wholesale prices, so drivers across the UK – with the exception of those in Northern Ireland where fairer prices are charged – are once again losing several pounds every time they fill up. Having monitored prices for so long we believe there’s no good reason for retailers in Great Britain not cutting their prices at the pumps far further. We can only think they’re hoping no one will notice due to the distraction of the General Election.”

In response, Gordon Balmer, executive director of the Petrol Retailers Association, said: “We must consider the significant increases in operating costs, reduced fuel volumes post-pandemic, and the substantial investments required to transition to a low-carbon transportation system. These factors mean that fuel retailers need to earn more from fuel sales to stay in business and invest in the future.”