‘Now we know the truth’ Fury as fuel retailers fail to pass on 5p duty cut

‘Now we know the truth’ Fury as fuel retailers fail to pass on 5p duty cut

But the average price of a litre of petrol at UK forecourts has fallen by just 3.7p per litre, figures from data firm Experian Catalist showed. The average cost for a litre on Sunday was 163.6p, compared with 167.3p last Tuesday. The average price of diesel fell by 2.4p per litre over the same period, from 179.7p to 177.3p.

Luke Bosdet, AA fuel price spokesman, said: “Why are drivers not surprised that on average a third of the petrol saving has yet to be passed on at the pumps?

“The fuel trade always disputes the accusation that pump prices shoot up like a rocket and fall like a feather. Now we know the truth.”

Mr Bosdet said the Treasury “must have expected more from UK forecourts”.

RAC spokesman Rod Dennis said drivers will be disappointed that prices have failed to come down further since last week’s fuel duty cut.

He added: “As duty is charged on the wholesale cost of fuel, it’s the case that some retailers will be waiting for new deliveries in order to buy fuel in at the cheaper rate – meaning drivers will have to wait to see the benefit at the pumps.

“What happens to the oil price, and in turn wholesale costs, in the coming days will be crucial. If prices rise, there’s a risk the fuel duty cut will be cancelled out as retailers face higher costs.”

Published at Mon, 28 Mar 2022 12:53:00 +0000