Diesel drivers being ripped off at rate of £40m a week
Despite the wholesale price of diesel falling below petrol more than six weeks ago, diesel car owners aren't seeing the benefit of lower prices on most forecourts.
As a result, motoring organisation the AA has claimed that fuel retailers are "plundering" motorists' wallets with unjustifiably inflated prices at the black pumps. These unnecessarily high prices have now seen British drivers overcharged by around £250 million.
Consequently, campaigners have demanded a competition enquiry with the support of 32 MPs from multiple parties after claims of "opportunistic and unfair profiteering" in the industry with the AA, RAC and FairFuelUK all seeking an urgent response from the competition authorities, the Daily Mail reports. The AA has stated that drivers are being ripped off by up to 6p per litre of diesel.
The wholesale price for the fuel dropped below petrol six weeks ago, sitting around 2p less than petrol since then. However, motorists can typically see a 4p a litre premium for diesel on forecourts. This means that retailers have been making just under six times more profit from every litre of diesel than petrol, according to the RAC Foundation.
Despite an even split between petrol and diesel new car sales, there are currently 10.7 million diesel cars on the roads compared with 18.6 petrol vehicles. Founder of FairFuelUK, Howard Cox, told the Daily Mail: "The UK is the only country in the EU to price diesel more than petrol, and 26 out of 28 EU states now show diesel below a £1 per litre. In the UK it averages £1.20."