Fri. Jun 24th, 2022

Fuel retailers in the UK have been urged to slash petrol prices by 6p, the RAC said the current price of petrol at forecourts, which is now standing at 147.27p is too expensive and that the average price should be nearer 141p a litre as a fair price for drivers. (the RAC estimates that drivers have to pay an extra £3.50 a tank)

RAC fuel spokesman Simon Williams said: “In the last few days the wholesale price of petrol has fallen steeply which means the biggest retailers are in a great position to cut prices and ease the burden being felt by drivers throughout the UK who are paying £80 for a full 55-litre tank.

“As the big four supermarkets are responsible for selling 45% of all the country’s fuel, they are constantly buying new supply so they’re able to pass on the savings to customers straightaway, unlike smaller retailers who tend only to buy in fuel once a fortnight.

“The longer they hold off doing the right thing, the more money they make on every litre they sell and the worse off drivers are.

“Unfortunately, during Covid, we’ve seen retailers increase their margins by 2p a litre from the norm of 5p to 7p. However, the recent downward wholesale movement means they’re now averaging more than 10p a litre.”

If you’re interested in more UK energy news, check out our other articles regarding the UK energy sector and how it’s handling the recent energy crisis.

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