Fuel retailers accused of raising profits as drivers face new record highs

Fuel retailers have been accused of exploiting tough drivers by expanding profits to: Gasoline and diesel prices Soar.

According to a fuel margin analysis, retailers are producing an additional 2p per liter compared to before mid-March. Prime Minister Rishi Sunak Reduces 5p per liter from fuel tax.

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Margins are now 11p per liter for gasoline and 8p for diesel, 9p and 6p respectively in the months before tariffs were reduced.

(Photo by Finnbarr Webster / Getty Images)

RAC fuel spokesman Simon Williams warned that volatile oil prices would inevitably lead to further price increases, meaning drivers were denied potential savings.

On Monday, RAC reported that the average price of a liter of diesel exceeded 180p for the first time. This is supported by analyst Experian Catalist figures, which also show 180.3p of fuel per liter. Another government figure suggested that it was 179.7p-a record high according to its own data.

Gasoline has not yet returned to the 167.3p record set on March 22, but both RAC and Experian Catalist report that it is currently at 166.8p and could rise.

Williams said:

“The 5 liter tariff cuts in March are making a difference, but they have proven to be less useful than the government wanted, which means they rarely prevent prices from rising further. ..

“A RAC analysis of fuel margins shows that for some reason retailers are taking an average of 1 liter and 2p more than before the Prime Minister’s 5p tariff cut. The average margin for gasoline is now per liter. 11p, the average margin of diesel is 8p. Looking at this, the long-term average margin of lead-free is 7.5p, and the average margin of diesel is 8p. “

In response to the latest figures, a spokesman for Prime Minister Boris Johnson said:

“We know that many retailers such as major supermarkets, Asda, Tesco and Sainsbury’s are taking over the cuts. We will raise this with other petrol retailers.

“The business secretary will write to the industry again to remind them of their responsibilities here, and they suspect that everyone needs to ensure that these reductions are inherited in the vestibule. There is no room. “

Fuel retailers accused of raising profits as drivers face new record highs

Source link Fuel retailers accused of raising profits as drivers face new record highs

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