‘This isn’t acceptable’: RAC slams retailers for ‘failing’ drivers over record fuel prices

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New data shows the average price of unleaded petrol is 6p a litre too expensive, standing at 147.27p per litre. Despite the recent wholesale price reductions, the price of petrol on forecourts has continued to increase – rising 3p a litre since the start of November.

The RAC believes the average price should be nearer to 141p a litre.

This means drivers are unfairly having to fork out an extra £3.50 a tank.

Simon Williams, RAC fuel spokesperson, has called on fuel retailers to cut petrol costs and ease pressures on drivers at a time when other household bills are increasing in price.

He said: “In the last few days the wholesale price of petrol has fallen steeply.

“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 percent 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.

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“However, the recent downward wholesale movement means they’re now averaging more than 10p a litre.

“This seems very harsh on drivers considering how many are struggling financially because of the inflated cost of filling up.

“RAC research has found that around half of drivers (46 perent) will be forced to cut other household spending as a result of petrol and diesel prices continuing to rise beyond their current record high levels.” 

The price of Brent Crude Oil lingered around £63 through October, the highest price since 2014.

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