Are we paying too much for fuel while retailers rake in the profits?
The RAC believe that, while the cost of wholesale fuel has come down, retailers haven't been passing on this saving to their customers.
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00:00The RAC has for many years analysed fuel prices with a view to understanding retailer margins
00:08and try to establish whether they're fair and whether drivers are getting a reasonable
00:13deal out of the pumps or not. Unfortunately, the data we've been looking at has shown that
00:20margins are particularly high now for diesel. Now, we realise that costs are increasing
00:24for retailers too, but when you see a margin of 18 pence a litre compared to the long-term
00:29margin of eight pence a litre, you'd think, well, something's going slightly wrong here.
00:34And we've also looked at prices across Europe and we can see that our diesel is now the
00:39most expensive in Europe. And that is with a current five pence a litre fuel discount,
00:48which was invoked by Mr Sunak when he was Chancellor just shortly after the invasion
00:53of Ukraine by Russia. So for us to have the most expensive diesel in Europe, something
00:57is slightly awry.