Automotive Industry Digest

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Politics and regulation

Petrol and diesel prices coming down after RAC called for cuts

Following the RAC’s call for a cut in prices at forecourts, major UK supermarkets have now started to slash their prices. Reacting to this, RAC fuel spokesman Simon Williams said:

“Drivers should be relieved the supermarkets are cutting fuel prices after weeks of falling wholesale costs. It’s just a shame it’s taken so long to see cuts of this scale as RAC Fuel Watch data shows they should have already happened. Drivers badly need retailers to move away from headline-grabbing cuts to passing on reductions daily in the same way they do with price increases.

“The cost retailers have been paying to buy in petrol and diesel, and the price they charge at the pumps, have been severely out of kilter for weeks. In fact, we had a bizarre and desperately unfair situation where the supermarkets were putting up prices when wholesale costs were falling, meaning drivers were paying far more to fill up than they should have been.

“We now need these cuts to be reflected by all retailers so the price paid at pumps all over the UK comes down from the current averages of 126.65p for petrol and 131p for diesel.

“As it takes time for price drops to filter through to forecourts, we urge drivers to be careful where they fill up to make sure they’re not being charged over the odds as prices can vary widely, even between supermarkets. The cheapest petrol is now available for under 119p per litre, and cheapest diesel under 121p per litre.”

*Article Source www.rac.co.uk

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