Prices of petrol and diesel continue to fall, but fuel retailers are ‘refusing’ to pass on full savings to motorists, according to the RAC.
The organisation’s Fuel Watch shows that the average price of petrol fell by 7.5p a litre to November 146.95p. However, the RAC believes that this is still 10p more per litre than it should be, with the average retailer margin per litre of petrol now 17p – well above the long-term average of 7p.
Drivers are now paying an average of £80.62 to fill a typical 55-litre petrol family car – £5 more than they should be, says the RAC.
The price of diesel fell by 7p in November to 154.40p, but this is said to be an ‘overcharge’ of 5p per litre, and means filling a 55-litre car is around £2.50 more expensive than it should be at £84.92.
The RAC has criticised fuel retailers for ‘refusing to pass on’ the 5p fuel duty cut implemented in March 2022, and estimates that motorists have lost out on £184m in the last two months alone because of this overcharge.
The RAC’s Fuel Watch also highlights the retailers offering great value, with the independent Grindley Brook forecourt in Whitchurch, Shropshire, only charging 131.9p for petrol and 143.9p for diesel – considerably less than the average.
RAC fuel spokesman Simon Williams said: “While the price of fuel fell in November, the truth is there is no reason whatsoever for drivers to be jubilant as the data clearly shows they are continuing to get a rough deal at the pumps.
“Wholesale fuel costs have been falling for months, so they should be paying around 137p for petrol, instead of a whopping 147p. Diesel is also overpriced at 154.40p when it should be on sale for under 150p.
“We reiterate our call to the biggest retailers to significantly cut their prices to mirror what’s happening with greatly reduced wholesale costs.”