Thursday, February 9, 2023
HomeNews‘Unnecessarily tough’ major supermarkets failing to cut fuel prices as families struggle

‘Unnecessarily tough’ major supermarkets failing to cut fuel prices as families struggle

Tesco, Asda, Morrisons and Sainsbury’s have all been accused by the RAC of profiteering from high petrol prices amid falling wholesale costs. According to the roadside assistance and recovery company, pump prices mean that drivers are paying an average of 183p per litre.

Such prices mean that some motorists are being overcharged for their fuel by approximately £9 a tank.

According to the RAC, the wholesale costs of petrol has dipped by 20p since early June which has not been reflected in prices at many forecourts.

UK retailers which include the ‘big four’ instead continued to raise their prices in June and in the following month only reduced prices at the pump by an average of 9p.

Now the wholesale costs of unleaded fuel have sunk back to the prices on forecourts at the beginning of May.

In May unleaded was 131.75p per litre which meant that average pump prices were around 167p.

Yet the RAC stated that drivers are paying approximately 183p per litre despite the cut in wholesale costs.

The company added that motorists who purchase diesel should currently be paying approximately 182p per litre which is almost £6 less than the average of 192p per litre motorists paid in July.

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Simon Williams, an RAC spokesman said: “July has been an unnecessarily tough month for drivers due to the big four supermarkets’ unwillingness to cut their prices to a more reasonable level, reflecting the consistent and significant reductions in the wholesale cost of petrol and diesel.

“As it was, we saw independent retailers leading the charge with fairer pump prices appearing all around the country which eventually forced the supermarkets to finally implement a more substantial cut late last Friday afternoon.”

He continued: “What ought to have happened is that the biggest retailers cut their prices more significantly on a daily basis, given the wholesale price of petrol has fallen steadily over the last eight weeks.”

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