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Fuel prices at six-month high as fuel retailers look to hang on to their profit margins

19 May 2019

 

Government data shows that the UK’s average price of a litre of petrol stands at £1.28, while diesel costs £1.35. 

 

This means the cost of filling the tank of a 55-litre petrol taxi has increased by nearly £4 in the past six weeks, and more than £2 for diesel cars.

The last time prices were higher than current levels for either fuel was November 2018, according to the Department for Business, Energy and Industrial Strategy figures.

Steve Gooding, director of motoring research charity the RAC Foundation, said: “Since the start of the year the wholesale cost of petrol has increased faster than that of diesel and now the two fuels are leaving the refineries at about the same price.


“Yet diesel is still several pence per litre dearer than petrol at the pumps. It seems that retailers are keen to hang on to their profit margins where they can and drivers are paying the price.” 

 

Image: RAC Foundation

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