Diesel Price Rip-Off: Paying More Despite Wholesale Parity with Petrol
Diesel is selling for an eye-watering 17.5p a litre more than petrol at UK pumps – even though wholesale prices are neck and neck, latest RAC Fuel Watch data reveals.
Wholesale Diesel Matches Petrol but Forecourts Won’t Budge
Petrol’s average price sits at 146.63p per litre, while diesel hikes up to 164.26p. Wholesale prices tell a different story, with both fuels roughly 114.5p. In fact, diesel was even cheaper than petrol on two days last week.
Since March kicked off, diesel’s wholesale price dropped 5p a litre, from 119p to 114.5p, while petrol barely budged (114.6p to 114.7p).
RAC Slams Forecourt Fuel Firms for Huge Mark-Up
“The forecourt price disparity between petrol and diesel across the UK is absolutely shocking given their wholesale prices are now virtually identical,” said RAC fuel spokesman Simon Williams.
“Back in early March, diesel was just 6p dearer wholesale, but the pump charged drivers a 20p gap. Now the wholesale prices match and there’s still a 17p difference on the forecourt.”
“Retailers are pocketing nearly 20p a litre this March, way above the usual 7p margin. It’s a devastating squeeze on all diesel drivers and businesses relying on it.”
“Diesel prices should have dropped to around 152p by now. With wholesale at 114p, we should be seeing forecourt prices near 147p. Instead, the big four supermarkets are charging a staggering 162p a litre on average.”
Supermarkets Under Fire for Price Gouging
Williams blasted supermarket giants who buy fuel frequently and should easily pass on savings. “Their refusal to cut prices during the cost-of-living crisis is scandalous,” he said. “Only Costco breaks ranks, charging just under 150p per litre.”
Despite diesel wholesale prices falling over 5p since March, supermarkets have trimmed prices by just over 3p. Considering supermarket fuel usually undercuts the UK average by 4p, drivers should have seen prices below 150p weeks ago.
Independent retailers are now often cheaper than supermarkets, a new trend that highlights supermarket greed. “If smaller retailers can survive on thinner margins and smaller sales, what excuse do the supermarkets have for these rip-off prices?” Williams challenged.
“We hope the Competition and Markets Authority, currently reviewing UK fuel markets, is keeping a sharp eye on this appalling pricing behaviour. Drivers up and down the country deserve better.”
