Supermarkets Accused Of ‘Unnecessarily High’ Fuel Prices
The RAC has stated that supermarkets throughout the country are still offering ‘unnecessarily high’ fuel prices…
Supermarket Fuel Prices ‘Unnecessarily High’
A new analysis of pricing data has caused the RAC to conclude that supermarket chains are still charging their customers ‘unnecessarily high’ fuel prices. The organisation has noted that most of them are currently enjoying margins of around 15p on a litre of petrol and diesel. This means that hard-pressed drivers, already grappling with a serious cost-of-living crisis, are paying an average 160.96p for petrol and 184.41p for diesel.
If the margin was reduced to 10p, drivers would face prices of 152p and 173p for petrol and diesel respectively; which is around 9p and 11p less per litre. Ultimately, whilst wholesale oil prices have stabilised, and fallen, supermarkets haven’t since lowered their prices – effectively profiteering from crises, such as the Russian invasion of Ukraine, even as their effects have become more moderate.
‘It’s Very Sad to See’
Simon Williams, the RAC’s fuel spokesman, commented on the current pricing. He said, “with many people struggling to put fuel in their cars it’s very sad to see the biggest fuel retailers taking advantage of their customers by charging far higher prices than they should be. This is unfortunately a perfect example of prices falling like a feather, the opposite of them rocketing up as soon as the wholesale price rises significantly”.
William’s observed that, whilst supermarkets were historically competitive in their prices, a lack of competition has allowed them to consistently offer increased prices at their petrol stations. He explained, “if one of the supermarkets were to lead a round of price cuts, the others would follow suit which, in turn, would bring the average price of fuel down for the benefit of drivers everywhere”.
The RAC is now calling on supermarkets to lower their fuel prices by 5p a litre. It’s also advising drivers to consider using independent fuel retailers, as they may now sometimes offer better prices.
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