Despite the falling wholesale price of oil and fuel, savings are failing to be passed onto motorists according to FairFuelUK.
The data shows that since Christmas, the price of oil has fallen by 89%. Meanwhile, the wholesale petrol price has fallen by 24% but price at the pumps has only seen 1% of these savings passed on. While diesel has fallen 19%, yet retail has only fallen 3%.
In this time, fuel supply chain businesses have increased profit from drivers when they fill up, by 242% for petrol and 175% for diesel.
FairFuelUK Campaign is calling upon the UK government to create a PumpWatch body to ensure savings are fairly passed on to motorists. They argue that petrol and diesel should now be at least 15 pence/litre lower at the pumps.
Howard Cox, Founder of FairFuelUK Campaign says: “The faceless fuelsupply chain does it again, this time using a national crisis to line their already fat wallets. The Government must act now by putting in place a fuel pricing monitoring watchdog. The perennial cheating of the world’s highest taxed motorists, everytime oil prices change, must be scrutinised by an independent PumpWatch body. It borders on criminal behaviour.”