Drivers are having to fork out a massive 20p per litre more for
diesel than petrol despite there being little difference between
the two fuels on the wholesale market, RAC Fuel Watch pricing
analysis shows.
The wholesale price of diesel was just 6p more than petrol last
week (121.06p compared to 115.48p), leaving drivers of diesel
vehicles having to pay 168p a litre, compared to just 148p for
unleaded.
The RAC calculates that if diesel was being sold at a fairer rate
drivers would be paying no more than around 155p per litre, which
would make the cost of filling an average 55-litre family car £7
less than it is today (£85.25, compared to the current £92.40).
RAC analysis shows retailers are currently taking more than
double the margin on every litre of diesel they sell – just shy
of a whopping 20p – compared to the 8.5p on unleaded, in effect
subsiding petrol prices by charging more for diesel.
The RAC is calling on retailers to urgently cut the price of
diesel to fairer levels, following the lead of membership-only
retailer Costco which this week lopped 4p off diesel at its sites
across the UK, meaning it is now charging an average of 154.7p –
13p less than the UK average and 11.5p less than the average at
the UK’s big four supermarkets.
RAC fuel spokesman Simon Williams said: “While our data shows
petrol is generally being sold at a fair price at forecourts at
the moment, drivers of the country’s 12m diesel cars* – as well
as almost every white van driver – have every right to feel hard
done by as they’re paying a huge premium for the fuel which in no
way reflects its lower wholesale cost.
“For nearly a month, the gap between wholesale petrol and diesel
prices has been less than 10p a litre and in recent days it has
reduced to just 3.5p, yet average diesel prices at the pumps
remain stubbornly high having fallen by only 2p since the start
of February. The fact membership-only retailer Costco has been
able to cut the average price of a litre of diesel by a massive
4p this week shows what’s possible, but we badly need other fuel
retailers to treat drivers of diesel vehicles fairly.
“Even though the price of diesel is not being cut as quickly as
it should be, the gap between the average prices of petrol and
diesel has dropped to under 20p (19.99p) for the first time since
10 October 2022. If retailers now do the right thing this should
reduce significantly, saving drivers who rely on diesel a lot of
money every time they fill up.”
