As households across the UK watch their budgets, a UK driving organisation has warned motorist of a potential price change at the pumps that could finally ease some of the fuel burden. According to one report, drivers could see diesel prices fall in next two weeks, so it may be worth eking out your consumption and journeys until then.
However, the change is not set in stone, it will require retailers passing on a drop in wholesale prices. One expert said the current price for diesel "in no way reflects its lower wholesale cost".
The RAC was reported by Birmingham Live as saying that diesel drivers are still charged an extra 20p when compared to owners of petrol cars. This comes despite there being 'little difference' in their prices on the wholesale market. According to the figures, diesel drivers are forking out £92 to fill the average tank, with the cost of filling up a family petrol car coming in at £81 - a tenner less. With this is mind, the RAC has said diesel drivers may see prices slashed over the coming fortnight.
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Simon Williams, an RAC spokesperson, said: "Drivers of the country’s diesel vehicles 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 4p last week shows what’s possible, but we badly need other fuel retailers to treat drivers of diesel vehicles fairly."
It found that diesel's wholesale price - the amount that retailers pay for fuel - was just 6p per litre more than petrol last week. But a litre of diesel is being sold at an average of around 168p while petrol is just 148p. RAC analysis found that retailers are "subsidising" cheaper petrol by taking a margin of 20p on every litre of diesel they sell.
Latest Government figures show 17.6 million vehicles licensed in the UK are diesel-powered, including the vast majority of vans. That represents 43% of all vehicles on the road.
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