Diesel prices still too high, RAC states

Date: Tuesday, March 21, 2023 | Author: Sean Keywood

Operators of diesel vehicles are continuing to face disproportionately high costs at UK filling stations, according to the RAC.

The motoring organisation said that this was despite the continuing freeze on fuel duty announced in last week’s Budget, and declining wholesale prices.

According to the RAC, both crude oil and wholesale diesel prices are ow at their lowest level for 15 months.

However, while the last four weeks have seen the wholesale price of a litre of diesel come down by 10p, the average pump price reduction has been just 3p.

In addition, the wholesale price gap between diesel and petrol has narrowed to just 1.5p per litre, yet this is currently translating to a 19p price difference at the pumps.

RAC spokesman Simon Williams said: “Drivers and small businesses have every right to feel aggrieved. We’re in a ridiculous situation where it would take just one major retailer to do the right thing and cut diesel prices to more sensible levels for a ripple effect to take place across the country’s forecourts, benefiting hard-up households everywhere.

“Instead, no retailer wants to blink first, with the result being millions of drivers forking out far more when they fill up than they should.

“Two weeks ago, we pointed to how easy it was for retailers to slash diesel prices given how low the wholesale price had fallen. It’s a sad reality that prices have merely trickled down by only around a penny since then.

“We now hope at least one major retailer finally decides the time is right to cut the prices to more reasonable levels, which will surely mean others follow.”

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