RAC data finds fuel prices remain too high

Fuel prices remain too high after the Competition and Markets Authority found UK drivers were overcharged by £1.6bn last year.

According to the RAC Fuel Watch, average petrol and diesel prices in July remained at 145p and 150p per litre last month, which is 5p too much based on current wholesale prices.

RAC analysis shows average retailer margins actually went up by 3p a litre in July and are now at 13p for petrol and 14.5p for diesel.

In contrast, drivers in Northern Ireland pay an average of 140p for petrol and 142p for diesel, with retail margins around 8p per litre.

Fuel prices remain too high

Meanwhile, the RAC has also discovered that Asda, which operates 665 forecourts only provided pump prices to the Competition and Markets Authority voluntary data scheme on 12 days in July, or 39% of the time, while Tesco, Sainsbury’s, Morrisons, BP and Shell provide data every day.

RAC head of policy Simon Williams said: “It’s disappointing to see fuel prices remain far higher than they should be, especially after the Competition and Markets Authority (CMA) announced at the end of July that drivers were overcharged by an astonishing £1.6bn last year.

“With our analysis clearly showing margins are still significantly above the long-term average, it seems like nothing has changed and drivers continue to lose out despite all the ongoing scrutiny from the CMA and the government.