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Drivers ‘fleeced’ as average pump prices should be £1 a litre

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Oil prices have plummeted but petrol retailers are failing to pass on the cuts to drivers at this extraordinary time, a campaign group warns.

Since December, the oil price has plummeted nearly 60% in sterling terms while wholesale petrol costs have fallen more than 20% and diesel by 18%.

However, the retail price – the price drivers pay at the pumps – have only dropped 3% and 5% respectively, according to FairFuel UK Campaign.

The group claims since Christmas, the average family car using petrol is paying £11 more to fill up their tank than necessary. For diesel owners, this means they’re paying £8.25 more to fill up their tank than necessary.

Overall, the difference in profit and pump prices results in drivers being ripped off to the tune of £24m a day.

The group says average pump prices should stand at £1 a litre for petrol instead of £1.20 and diesel drivers should be paying £1.10 a litre rather than the £1.23 a litre currently priced in.

Howard Cox, founder of the FairFuelUK Campaign, said: “In an extraordinary time where we all must adhere to government advice to reduce risks to our health, the immoral fuel supply chain have been ripping off drivers to the tune of £23.8m per day.

“Since Christmas these opportunists have hidden behind a global crisis to fill their already fat wallets, by not passing on average, 20p per litre to what we currently pay at the pumps. The perennial cheating of the world’s highest taxed motorists, every time oil prices change, must be scrutinised by an independent PumpWatch body.

“It borders on criminal behaviour that coronavirus is the smokescreen for these faceless businesses, to  fleece UK’s 37 million motorists. The government must act now, to stop this chronic consumer abuse once and for all.”

Earlier this week, Asda and Morrisons slashed the price at the pumps by up to 12p a litre, meaning drivers pay no more than 102 ppl on unleaded and 108.7 ppl on diesel.

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