Drivers still being fleeced by fuel retailers despite cheaper wholesale costs
DRIVERS are still being fleeced by fuel retailers — despite cheaper wholesale costs, the RAC says.
Petrol and diesel prices stayed high, stuck at 145p and 150p a litre in July, the motoring organisation has revealed.
But based on wholesale prices, drivers should be paying about 140p for petrol and 142p for diesel, saving up to £4.40 on a tankful.
Retailers are pocketing 13p a litre on petrol and 15p on diesel — way above the typical 8p margin.
Last month, the Competition and Markets Authority laid into fuel retailers, revealing they ripped off drivers to the tune of £1.6billion in 2023.
Simon Williams, of the RAC, said it was disappointing to see fuel prices at the pumps still remaining “far higher than they should be”.
He went on: “Drivers continue to lose out despite all the ongoing scrutiny from the CMA and the Government.”
FairFuelUK called on Chancellor Rachel Reeves to resist raising fuel duty in the Autumn Budget.
The Department for Energy Security said: “Retailers must give drivers a fair price for their fuel by passing on any savings at the pump.
“We have committed to introduce legislation that could force retailers to share real-time prices.”
The Sun’s Keep It Down campaign has saved drivers £90billion in fuel duty over the past 14 years.