RAC says large retailers raise gas prices despite lowering costs
News

RAC says large retailers raise gas prices despite lowering costs

The RAC claims that while major merchants increase their profit margins, drivers are being denied a further 10p reduction in gas costs.

Due to the drop in oil prices, the average cost of a litre of petrol in the UK dropped by over 7p to 162.9p last month, it added.

Although this was the sixth-largest monthly decrease in the average price of gasoline since 2000, the driving services firm said that the decrease should have been greater.

“Drivers actually should have seen a significantly greater decline,” RAC fuel spokesperson Simon Williams said. “The wholesale price of supplied gasoline was approximately 120p for the whole month.”

This indicates that since the long-term margin on unleaded of 7p per litre, forecourts throughout the nation should have been advertising prices about 152p.

According to RAC Fuel Watch statistics, margins are almost 17p per litre, which is a massive 10p higher than usual.

Normally, supermarkets charge around 3.5 pence per litre less than the UK average, but right now they only cost about 1.5 pence less.

Mr. Williams said that Morrisons gives consumers who spend a certain amount at the shop cheap gasoline.

Instead of just believing that supermarkets provide the cheapest petrol, he advised drivers to research their options.

Last month, the average cost of a litre of fuel decreased by 3.5p to 180.2p.


↯↯↯Read More On The Topic On TDPel Media ↯↯↯

Related posts:

  1. RAC accuses Petrol stations of ripping off drivers with higher average petrol prices. According to a motoring organization, average unleaded prices are 14p per litre higher than they ought to be at gas stations, which is being accused...
  2. To keep the heating and lights on for their dog in the winter, dog owners may be spending close to £300 annually. In his studies, energy efficiency expert Dr. David Glew has observed numerous instances of people leaving the central heating on in their vacant homes to keep their pets warm. He cautions that having the heating on for a dog might increase the annual gas bill in a big family house by £240. Dr. Glew estimates that leaving the lights on for a pet in a few rooms for six hours a day may cost £50 a year with contemporary spotlights or £12 a year with LED lightbulbs. While leaving a fan on would only cost £5, leaving the air conditioning on throughout the entire house may cost hundreds more per year. The majority of healthy pets have enough fur to keep them warm, according to veterinarians, so turning on the heat or air conditioning is typically unnecessary. This month at the Cheltenham Science Festival, Dr. Glew, director of energy efficiency and policy at Leeds Beckett University, brought up the subject in a discussion. There is no need to leave the heater on for pets, he said, but if owners feel they must, they might think about solely heating the room the dog enjoys or lowering the thermostat or radiator dial. According to Energy Saving Trust research from 2015, 43% of pet owners leave the heat on for their animals.To keep the heating and lights on for their dog in the winter, dog owners may be spending close to £300 annually. In his studies,...
  3. ‘A federal gas tax holiday is ‘certainly worth considering’ to lower gas prices’ says Treasury Sec. Janet YellenA federal gas tax holiday is “absolutely worth exploring” to reduce gas costs, Treasury Secretary Janet Yellen said on ABC’s “This Week” on Sunday. Average...
  4. Powering African Countries with domestic gas is advantageous than importing Liquefied Natural Gas (LNG) says Impact Oil & Gas Chief Executive Officer (CEO)Despite being blessed with abundant oil and gas resources, Africa’s production has been on the decline, representing a challenge for the continent as it moves...
  5. Hurricane Ian shouldn’t be used as a “excuse” to raise gas prices – BidenOn Wednesday, President Joe Biden issued a warning to the oil and gas industry not to use Hurricane Ian as a “excuse” to hike gas...
  6. First time in five months, gas prices falls below $4, cutting costsFor the first time in more than five months, gas prices dropped to slightly under $4, which is excellent news for customers who are dealing...
  7. Retailers warn that the PM’s push to reinstate imperial measurements will result in higher prices.Retailers have warned that Boris Johnson’s post-Brexit effort to return to imperial measurements will result in even higher pricing for already struggling Britons. The government...
  8. Australian farmers reject allegations retailers would make enormous gains by raising pricesAustralian farmers have responded angrily to claims that large supermarket chains are poised to report tremendous profits because they have the ability to pass on...
  9. 71-year-old cancer patient wet herself waiting for RACAfter being forced to wait seven hours on the side of a dual carriageway as she “cried” and “pleaded” for the RAC to arrive, a...
  10. We’re lowering on-street paid parking charges to make parking easierOn Monday, October 24, pricing adjustments for on-street paid parking in Seattle will go into effect at various sites. This seasonal adjustment is part of...