FairFuel UK said diesel and petrol are 10p to 14p per litre higher now than necessary in light of a similar dollar price for a barrel of brent oil back in 2014, even considering exchange rate changes.

The campaign group, along with the Fair Fuel All-Party Parliamentary Group (APPG), are calling for an immediate cut in fuel duty as the “punitive pump prices” mean the government is “enjoying an annualised VAT windfall in excess of £2bn”.

They said the government needs to “check the profiteering” as Brits face a cost of living and national economic crisis.

This is based on data which showed in September 2014, the petrol price was recorded at £1.28 a litre while brent oil stood at $100 a barrel (£62.11 in UK sterling).

Removing the 2014 fuel duty and VAT taxes, the fuel supply chain price minus all taxes came to 48.72p a litre.

However, today this stands at 68.72p a litre, meaning petrol prices are averaging 20p more per litre.

But when considering the dollar exchange rate and Sterling being 25% weaker, even if this figure is adjusted, it means today’s prices are averaging 8p more per litre. Once all taxes (fuel duty and VAT) are included in calculations, they claim petrol drivers are paying “an eye-watering 14p more per litre at the pumps”.

For the driver of the average family car, that means they are paying £7.70 more than is “honest or fair”, they claimed.

Robert Halfon MP, vice chair of the Fair Fuel APPG, said: “Record fuel prices are just unaffordable and are having a huge impact on inflation. The government need to look at either reducing VAT on fuel or reducing fuel duty. We also need a FairFuelUK Pumpwatch monitor to ensure that prices are in line with wholesale oil prices.”

Howard Cox, founder of FairFuelUK said: “The sickening hold the fuel supply chain has over pump prices is more than perverse, it’s tantamount to being criminal.”

Craig Mackinlay MP, chair of the Fair Fuel APPG, added: “A PumpWatch monitor similar to Ofwat or Ofgem could ensure that reductions in oil prices are properly passed on to motorists at the fuel pump. It is unjustifiable that motorists continue to be over-charged for their fuel during a period of rapidly rising inflation across the board. HM Treasury could also help by using the VAT windfall being derived from high current pump prices. The cost-of-living crisis is already proving incredibly painful for many and sanity needs be restored to petrol pricing as quickly as possible.”