Friday, January 22, 2016
UK motorists, businesses, white van men are deliberately being fleeced at the pumps as oil prices continue to tumble. With various businesses in the fuel supply chain from refineries to retailers shamelessly increasing their profits, our recent fuel pricing data from highly reputable sources shows that it is diesel that is being exploited predominantly at the pumps. 

Since May 2015, oil prices in sterling have fallen by over 55.8% and yet wholesale prices for petrol in the same period (net of all taxes) have dropped by only 39.9% and at the pumps even less at just 26.9%.

Whilst wholesale diesel prices have nearly matched the fall in oil prices by dropping 54%, at the pumps, staggeringly drivers are not getting the same and are paying just 34.6% less. Pointing categorically to retailers not passing on these sizable oil and wholesale falls to 37m UK drivers and instead clearly using diesel as way to increase their forecourt profits.

In addition, since January 2015 wholesale diesel supplied to retailers has been higher priced than petrol on average for 30 weeks. At the pumps however, diesel drivers have been paying more than petrol for an average 49 weeks of the year. 

In the last year Diesel has averaged 114p with petrol at 110p per litre. Based on the last 5 weeks’ average wholesale prices since 14th December, diesel should now be at least 3p lower than petrol at the pumps. They are not! 

This means retailers have not passed on at least £2.25m of wholesale price cuts per day to diesel drivers amounting to £83m since 14th December or £75 per driver per year (Based on 75m litres of diesel sold each day). 

The Government benefits too from the retailing profiteering, gaining more VAT on these unfair levels of diesel prices to the tune of an extra £37k each day. None of this retailer and Government exploitation as a consequence is used in consumer spending.

Current retail margins based on average wholesale reported prices at 20th January subtracted from average pump prices show for diesel to be 11p per litre and petrol to be 5.8p per litre. On this basis diesel is being blatantly exploited even more starkly by over 5p more than the retail return on petrol (net of all tax). Equating to drivers of diesel cars being fleeced of £3.75m each day in rightful price falls at the pumps.

In the last 2 weeks, oil in sterling has fallen 15.2%, wholesale petrol (net of all taxes) dropped 7.3% with retail falling just 0.7%. Wholesale diesel has fallen in the same period 19.1% but at the pumps only 6.1%. Pointing to a long awaited start to the equalisation of diesel and petrol prices at the pumps.

Quentin Willson, TV Motoring Journalist and lead campaigner for FairFuelUK said:
"Weeks and weeks of increased profits on every litre of diesel sold and weeks and weeks of not passing savings on to motoring consumers. And the fuel and oil industries wants us to feel sympathetic?' 

Howard Cox, Founder of the FairFuelUK Campaign said: "Everything about fuel pricing hits UK drivers hard at the pumps from opportunistic profiteering suppliers holding onto beneficial recent oil price falls, to the heinous 74% taxation in Duty and VAT. We call on the Competition and Markets Authority and the Government to stop the unparalleled exploitation of motorists and our vital haulage industry. ”
 



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[ posted by John Mason, 22.01.16 21:42 ]

Absolutely disgusting

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[ posted by Stefan Ellis, 23.01.16 00:00 ]

What can we do other than shop around? I use Asda who have been consistently less than the rest, but still too dear. The thing that disgusts me is that oil prices should affect the price of electricity too, but they are all greedy pigs.

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[ posted by Mick Haskell, 23.01.16 09:03 ]

Discraceful exploitation of motorists who were conned into diesel in the first instance with 10p a litre discount incentive only to be bit with higher prices for years after. Now we know of this con trick? Make them stop......

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[ posted by Steven Simpson, 23.01.16 18:08 ]

Anybody know why diesel is cheaper than petrol on the continent i.e France , Germany , Holland etc

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[ posted by Andrew Hardwick, 24.01.16 10:52 ]

Because they're not taxed as high. I paid 76p a litre for diesel in December 2015 in Lithuania. The UK retailers and Government are just greedy and hate to think they're suffering because of low crude prices. The diesel / petrol prices are a scam anyway....diesel is alot cheaper to refine than petrol but costs more at the pumps? How does that equate? Greed....just pure greed. Ripoff Britain that's all.

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[ posted by Paul D, 23.01.16 22:39 ]

Any responsible government should realise that the killing the goose that lays the eggs is wrong by over burdening tax payers and most importantly diesel vehicle motorists. Low energy costs would have meant more disposable income for investing in new businesses etc which generate jobs and more income for the government but clearly some people think it's easier to fleece motorists

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[ posted by Shaun, 24.01.16 11:33 ]

Like you said any "RESPONSIBLE" government ! Don't be daft

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[ posted by Alma Lewis, 23.01.16 22:56 ]

Today I went to fill my petrol car and the diesel was 4p cheaper at 99p. I live on a remote Scottish island but our local shopkeeper gives us fair prices, much better than the prices in our 'big' town.

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[ posted by Dave Till, 24.01.16 09:10 ]

What really boils my diesel is that we seem to be the only country in Europe ( perhaps the world) where diesel is consistently more expensive than petrol. Northern Ireland diesel is more expensive than petrol, but just over the border petrol is more expensive than diesel. Who's taking the Micheal here?. The duty is the same in the UK for both fuels, so we can't blame HMRC for this anomaly.

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[ posted by Alerick, 24.01.16 14:25 ]

Am in Spain right now and i am paying 87 cents per ltr and diesel is ALWAYS cheaper than petrol here ....typical rip off Britten !!

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[ posted by Alex Black, 24.01.16 21:47 ]

The country is bust they need every penny to keep their borrowing interest payments going and their fancy salaries plus pensions to follow wake up and have a revolution they don't have austerity measures for themselves without us plebs they couldn't wipe their own backsides or get the daily bread in!

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[ posted by Bill Wilson, 25.01.16 14:11 ]

My locll Tesco Supermarket is the only place I have found where deisel is cheaper than petrol at 97.7p well done tesco. But it is still a rip off when you look at the price of a barrel of oil.

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