Fuel Prices Drop, But Diesel Drivers Still Getting Ripped Off
February saw a slight dip in fuel costs, with unleaded petrol down by 1.26p to 147.72p per litre and diesel slipping 3.19p to 167.19p. Filling up a 55-litre family petrol car now costs £81.25, down 69p from January. Diesel drivers pay £91.95, a drop of £1.76 since the start of February.
Diesel Costs Way Above Fair Price
Despite wholesale prices for diesel and petrol being neck-and-neck—only 6p apart during February—diesel pump prices are still a whopping 20p per litre higher than petrol. The RAC warns diesel drivers are paying around £7 more per tank than they should, with a fair diesel price sitting near 155p a litre.
Fuel Duty Hike Looms – Brace Yourself!
Drivers face a nasty “pump price shock” in less than two weeks unless Chancellor Jeremy Hunt extends the existing 5p fuel duty cut or scraps the scheduled hike at the Spring Budget on 15 March. Without intervention, petrol prices could jump to 153.72p and diesel to a hefty 173.19p a litre inclusive of VAT.
RAC Sounds Warning As Costs Bite Harder
Simon Williams, RAC fuel spokesman, says: “A drop in pump prices should be great news during the cost-of-living crisis, but diesel drivers aren’t getting a fair shake. While petrol prices reflect wholesale costs, diesel prices at the pump remain unfairly inflated despite similar wholesale prices to last year.
“Retailers need to cut diesel prices now and stop short-changing drivers. And with household budgets tighter than ever, the Chancellor should seriously reconsider removing the 5p duty cut. Raising fuel duty now would punish families and businesses, risk pushing inflation even higher, and hurt the UK economy.
“If the planned diesel hike goes ahead, the UK will have the highest fuel duty rates in Europe. We hope Mr Hunt won’t become the first Chancellor in 12 years to ignore this duty rise.”
Fuel Prices Across The UK
Fuel prices vary across the nation, keeping drivers on their toes as every penny counts. Stay tuned for updates as the fuel duty decision approaches.
