The RAC has once again called on major supermarkets to lower their petrol prices , saying that falling wholesale costs are still not being reflected at the pump.
The four major supermarkets , Tesco, Sainsbury’s, Asda and Morrisons, have come under renewed criticism from the motoring organisation, who say that prices are not dropping as much as they should. The RAC claims that the gap between wholesale prices and the price that drivers are paying is wider than it has been for 10 years.
Supermarket petrol prices were around £1.76 a litre this week - but with the average price for wholesale standing at £1.24, analysis from the RAC suggests that pump prices should in fact be no more than £1.62, WalesOnline reports . This price takes into account fuel duty, VAT, and what the RAC called a “generous retailer margin” of 10p per litre.
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Simon Williams, head of PR and external affairs at the RAC, said: “There appears to have been a big shift in the last few months in the behaviour of the four major supermarkets, which dominate UK fuel retailing, as they are now commonly being undercut by independent retailers that are passing on the wholesale cost savings they're benefiting from to drivers. This is unheard of, as the supermarkets are normally at least 3p a litre cheaper than the UK average.”
Supermarkets first came under a fire last month for failing to pass on wholesale petrol price savings down to customers, sparking anger from motorists amid the cost of living crisis. The RAC recently warned drivers that they can no longer rely on their supermarket for the cheapest price when they need to fill up their tank.
The company urged customers to shop around for their fuel, saying that they were “highly likely” to find an independent retailer that is “doing the right thing and fairly reflecting their lower wholesale costs by charging a lower price”.
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