![]() Daily fuel price monitoring with Fuel Watch by The RAC showing the average prices for a litre of petrol, a litre of diesel or a litre of LPG.Monthly fuel price reports by the AA showing the average prices for each region for a litre of petrol, a litre of diesel or a litre of LPG.Keeping track of fuel costs can help you budget for price fluctuations: July 2022 saw fuel costs peak at 188.76 ppl for petrol, and 196.96 for diesel. The average price for a litre of unleaded stood at 146.5 pence as March ended, and diesel was 159.43 pence, down significantly from petrol’s 163.26 ppl price, and diesel’s 184.49 ppl cost in mid October last year. A litre of unleaded was 125.5 pence on average in December 2019, and diesel 129.6 pence, although prices at supermarkets averaged 121 pence (unleaded) and 125.3 pence (diesel) according to historical reports from the AA. The RAC’s Fuel Watch programme found the average cost of a litre of unleaded was 144.95 pence on Sunday 14 May, with diesel 154.31 pence, with prices still significantly higher than they have historically been. The RAC has long been pressuring fuel retailers to price their petrol and diesel more fairly, with the organisation’s Fuel Watch spokesman, Simon Williams saying: “the biggest retailers taking more margin per litre on fuel than they have in the past”, and that diesel is “more than 20p a litre overpriced simply because they refuse to cut their prices.” Mr Williams highlighted the wholesale price of diesel is currently 4 pence per litre cheaper than petrol, but at the pumps it is 9 pence a litre more. Retail fuel prices are often said to be subject to rocket and feather economics, whereby they rise quickly when wholesale prices increase, but do not fall so fast when the wholesale market declines. The competition watchdog said while the Russian invasion of Ukraine had impacted fuel prices, “indications are that higher pump prices cannot be attributed solely to factors outside the control of the retailers”. The CMA is “not satisfied” that supermarkets “have all been sufficiently forthcoming with the evidence they have provided” to the CMA as part of its initial research into pricing, citing “important evidence” for its investigation being received “late in the day” and after “several rounds of information gathering.”Īs a result, the CMA will conduct “formal interviews” with supermarkets’ senior management teams, stating “it is vital we get to the bottom of what is going on”. The Competition and Markets Authority (CMA) is investigating whether UK supermarkets are pricing their fuel fairly, after finding evidence that “at least one supermarket has significantly increased its internal forward-looking margin targets.” Competition and Markets Authority looks into whether supermarkets are treating fuel customers fairly ![]()
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