15 pence per litre of wholesale falls being held back from drivers despite 50% drop in oil price.
Since Christmas to March 13th 2020 oil has fallen by 89% in Sterling, while fuel supply chain businesses have increased profit from drivers when they fill up, by 242% for petrol and 175% for diesel. Since Christmas, the average family car is paying £8.25 more to fill up their tank than necessary.
The situation does not seem to have improved, since March 3rd-13th 2020 oil has now fallen by 50% in Sterling and fuel supply chain businesses have increased profit from drivers when they fill up, by 95% for petrol and 69% for diesel. Petrol and diesel should now be at least 15 pence/litre lower at the pumps according to experts.
Howard Cox, founder of FairFuelUK Campaign, says, “The faceless fuel supply chain does it again, this time using a national crisis to line their already fat wallets. The government must act now by putting in place a fuel pricing monitoring watchdog. The perennial cheating of the world’s highest taxed motorists, every time oil prices change, must be scrutinised by an independent PumpWatch body. It borders on criminal behaviour.”