Diesel drivers unionised in misery as pump prices stay sky-high despite wholesale diesel costs plunging, warns RAC.
Wholesale Prices Drop, Pump Prices Stay Stubborn
Diesel costs at the pumps remain sky-high across the UK, even though wholesale prices have hit their lowest in 15 months. Over the last four weeks, wholesale prices dropped by 10p a litre but drivers only saw a meagre 3p cut at forecourts (from 168.85p to 165.89p).
The usual gap between petrol and diesel wholesale prices has shrunk to just 1.5p, yet the price difference at filling stations is still a whopping 19p per litre.
Retailers Pocket Fat Margins, Drivers Pay the Price
RAC Fuel Watch data reveals retailers rake in nearly 19p margin per litre of diesel now—double the 9p margin taken through 2021 and 2022, and triple the 6p margin before the 2022 duty cut in March.
With 12 million diesel vehicles on UK roads—including countless small businesses relying on diesel vans—this fat margin means drivers see no reward for falling wholesale costs, despite the Chancellor freezing fuel duty until spring 2024.
Diesel Drivers Left Counting the Cost
RAC fuel spokesman Simon Williams said:
“At a time when households are squeezed by the cost of living, the Chancellor’s fuel duty freeze was the right call. Sadly, diesel drivers—vital to millions of small businesses—aren’t seeing any benefit from the 5p duty cut. Retailers are pocketing nearly four times that amount in margin on every litre sold. It feels like retailers are the ones cashing in, not motorists.
“Drivers have every right to be furious. It only takes one major retailer to slash diesel prices for others to follow. Yet no-one wants to blink first, leaving millions paying far more than they should.
“Two weeks ago, we highlighted how easy it was for retailers to cut diesel prices given the low wholesale cost. Instead, prices have barely dropped by a penny. We’re hoping at least one big player acts soon, triggering a nationwide price dip. Until then, drivers should shop around for pumps cheaper than the RAC Fuel Watch average.”
