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Monday, January 4, 2016

Superstores Slash Diesel To Below £1 A Litre

Fuel
Most of the major retailers have dropped their prices to 99.7p across hundreds of filling stations, but motoring groups have asked why these savings were not passed on to customers sooner.
Steve Gooding, director of the RAC Foundation, said: "The wholesale price of diesel has been below that of petrol since early December, yet the story at the pumps has been the opposite - with diesel 3p or 4p a litre higher throughout that period."
According to RAC Fuel Watch, diesel prices could fall even further - with spokesman Pete Williams suggesting that pump prices of 90p a litre "are not far-fetched" in the coming months.
He explained: "The lion's share of the price we pay at the pump, around 75%, goes to the Treasury in duty and VAT. The rest of the price is production, refinery costs, distribution and the fuel retailers' margins."
Mr Williams has called on other fuel retailers to follow suit, allowing motorists across the country to benefit from the low price of crude oil on the commodity market.
"The focus has been on the price of petrol but with more diesel sold in the UK, the retailers should be more transparent and reflect the savings they are making in the wholesale price more swiftly at the pump. And right now, diesel is cheaper than petrol," he added.
Despite the criticism, Asda has said its latest cut shows its commitment "to being the driving force behind lowering fuel prices", while Tesco claimed its reduction will help millions of customers to save money.

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