Petrol and Diesel At Eight Year High

Tue 10th Aug 2021

As motorists across the UK head out on staycation this summer, they are paying some of the highest fuel prices ever seen and one campaign group claims that retailers are overcharging for petrol and diesel.

Prices at the pump have rocketed for nine consecutive months, with the average price of a litre of unleaded now at 135.13p, an eye-watering price not seen since 2013 and one which means that to fill up an average sized car now costs £11.47 more than it did just a year ago.

But campaign group Fair Fuel UK have said that the wholesave price of fuel has not been reflected at the pump, with many petrol retailers charging up to four per per litre too much.

“Petrol and diesel prices are notorious for going up like a rocket and coming down like a feather,” said Howard Cox from the campaign group.

“For decades the fuel supply chain, notably a few wholesalers, have ripped off drivers at will by holding back price falls amounting to billions.

“Based on wholesale fuel prices, our calculations show the average price for petrol should now be £1.31 a litre not £1.35.

“The current diesel wholesale price is 2p per litre less than petrol. Yet at the pumps it is one to two pence more than petrol.

“Diesel should now be cheaper than petrol. In fact, around 7p to 8p cheaper than current pump prices.

“It is way past time that the Treasury and the government checked this chronic opportunistic profiteering in the fuel supply chain.”

Cox’s plea however is not likely to be heard by a cash-strapped government, who have seen fuel duty fall significantly in a year when motoring all but halted completely during lockdown. The government currently takes 57.95p per litre of petrol sold. In addition the Treasury also receives 20 per cent VAT on the total price of a litre of petrol.