Petrol and diesel drivers given a 'miserable deal' with expensive fuel prices despite supermarket price drops
The RAC expects pump prices to drop even further
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Drivers are being urged to make major savings when looking to fill up this year, with new data revealing which supermarkets are the cheapest and most expensive.
Research from the RAC found that the average cost of a litre of petrol dropped 2.4p last month to 147.88p, while diesel prices fell 4.5p down to 153.58p per litre.
The RAC has forecasted that prices will continue to fall further in the near future, with wholesale costs dropping for the first time in months.
Despite this, the motoring organisation confirmed that prices should be reduced "to a much greater extent", with a huge disparity between wholesale prices and what people are charged at the pumps.
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Asda is no longer the cheapest supermarket for fuel
PA.Retailers are profiteering with higher margins compared to historic levels with petrol at 13p and diesel at 16p, while long-term margins are only around 8p per litre.
RAC data provided to the Competition and Markets Authority (CMA) found that Asda is no longer the most affordable retailer, despite historically having the lowest costs.
Tesco, Morrisons and Sainsburys are selling petrol for an average of 2.1p less per litre (145.25p per litre, compared to Asda at 147.38p) and diesel for 2.5p less (150.45p per litre, compared to Asda at 152.98p).
The RAC has frequently called on the Government and the CMA to speed up the rollout of a nationwide fuel price checker - dubbed PumpWatch - to help drivers save more.
Rod Dennis, senior policy officer at the RAC, said: "A month of decreasing fuel prices should be seen as a good one for drivers, but the sheer time it is taking for any meaningful price reductions to reach forecourts is if anything a continuing cause of concern.
"When it comes to much-needed pump price cuts, it’s sadly a case of too little, too leisurely, with most drivers still getting a miserable deal every time they fill up.
"We’re once again in classic ‘rocket and feather’ territory, with pump prices only trickling down when they should really be falling like a stone.
"This means pump prices are at levels much higher than we ought to be seeing, which is all the more concerning given drivers are meant to still be benefiting from a 5p a litre duty cut introduced more than two years ago."
He added that it was interesting to see that Asda is no longer the cheapest supermarket for fuel, adding that the retailer had pledged to remain with low costs following a merger last year.
Despite this, Dennis added that there "doesn't appear to be much in the way of price competition", aside from a few exceptions.
Northern Ireland continues to have the cheapest prices across the UK, with petrol almost 6p cheaper per litre, while diesel drivers can save around 10p.
Many have put this down to the increased competition among supermarkets and major retailers with the Consumer Council Fuel Price Checker.
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There were fears fuel prices would continue to rise
PADrivers can use the comparison tool to look at where petrol and diesel prices are the lowest around the country, as well as see where they are lowest in their local areas.
This was again highlighted by the RAC, who said the CMA finally has the power to look at prices and investigate profiteering across the industry.
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