Petrol and diesel drivers lose money 'every time they fill up' as supermarkets hike prices for 'no good reason'

Experts at the motoring organisation believe fuel prices are far higher than they should be in comparison to wholesale costs which have been dropping since the end of April, with the General Election potentially to blame.

Drivers across the country have also been battling against some of the highest costs compared to the rest of Europe, with the UK having the most expensive diesel price across the continent.

Do you have a story you'd like to share? Get in touch by emailingmotoring@gbnews.uk

Diesel is 20p more than the European Union average, with prices also 8p higher than Finland - the next most expensive country.

Average retailer margins are currently 14p on petrol and 16p on diesel, showing that major brands are profiteering, given that long-term margins for both fuels stand at around 8p.

Simon Williams, head of policy for the RAC, said margins were still too high, despite a report from the Competition and Markets Authority (CMA) which found that drivers were overcharged £900million in 2022 alone.

He added: "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."

The "persistent overcharging" means drivers of standard 55-litre family cars have to spend an extra £3 for petrol and £5.50 for diesel every time they fill up, with the average full tank now costing more than £80.

Most political parties have supported introducing a PumpWatch scheme which would allow motorists to check and monitor the fuel prices in their area to see where they can get the best deal.

It is hoped that this would also spur competition among major retailers and supermarkets to make fuel prices cheaper for motorists, as it has done in Northern Ireland.

The Consumer Council Fuel Price Checker has seen massive price cuts for drivers in Northern Ireland, with motorists paying up to 10p less per litre than those in England, Scotland and Wales.

The latest data shows that fuel prices continue to fall, with petrol at 141.1p per litre, while diesel drivers are only paying a fraction more at 141.9p - savings of around 5p and 10p respectively compared to the rest of the UK.

Williams continued, saying: "We hope that the CMA is aware of what is going on and will use this to bring retailers into line as soon as it’s able to – something which is so desperately needed given drivers in Northern Ireland are paying so much less for the very same fuel.

LATEST DEVELOPMENTS:

• Major fuel duty changes to launch under new plans to help rural petrol and diesel drivers save at the pumps
  
• Electric car charging needs major overhaul with 'too much focus' on public chargers amid slowing demand
• Drivers issued urgent warning to follow Highway Code rules over fears roads could descend into chaos

"It’s important to realise that the big four supermarkets have a far smaller presence there than on the other side of the Irish Sea as they only operate around six per cent of Northern Ireland’s 580 forecourts.

"This compares to supermarkets running a fifth of the UK’s 8,300 forecourts."