Supermarkets have come under renewed criticism for refusing to lower petrol prices further, despite falling wholesale costs. The forecourts are not reducing the price at the pump by as much as they should to accommodate a significant price drop at the other end, says the RAC.
The motoring organisation claims that the gap between prices at the pump and wholesale prices are wider than they have been for 10 years. Prices on the forecourts were still around £1.76 for a litre this week, while analysis commissioned by the RAC suggested it should actually be at £1.62, because the average price for delivered wholesale petrol last week was £1.24, with diesel at £1.38.
The RAC said that forecourts should be selling unleaded for no more than £1.62 — even after taking into account fuel duty, VAT, and what it termed a "generous retailer margin" of 10p a litre.
