RAC calls on supermarkets to cut another 2p a litre off fuel as wholesale price of fuel continues to tumble

The RAC is making a fresh plea to Britain’s big four supermarkets to cut at least another 2p a litre off petrol and diesel following further reductions in the wholesale cost of fuel.

Following the RAC’s appeal for a 3p pump price cut last week the supermarkets responded with cuts of varying levels with Asda leading the way with an initial 2p a litre reduction. While this has helped bring costs down, the effect has not been as powerful as it could have been because of the way supermarkets price their fuel in different parts of the country.

The average price paid for supermarket fuel has only reduced by a penny a litre, with petrol moving from 119.46p (8 February) to 118.46p yesterday (13 February) while diesel has gone down from 121.83p to 120.84p. Unfortunately, the average price of fuel paid across all UK forecourts has hardly changed, reducing by around 0.5p a litre to 121.53p for unleaded and 124.21p for diesel.

Since the RAC’s call for a cut on Thursday last week the price of oil has fallen even further and now stands at $61.46 – its lowest price since mid-November last year. And, with the sterling/dollar exchange rate slightly stronger ($1.38) than it was then ($1.32) the wholesale price retailers pay to buy their fuel is considerably lower, which should pave the way for deeper forecourt price cuts.

RAC fuel spokesman Simon Williams said: “In order to be fair to motorists the big four supermarket fuel retailers should really make further cuts as the wholesale price is still falling. There is clearly scope for both petrol and diesel to be slashed by another 2p a litre at least. We hope they are not resting on their laurels, thinking they’ve done enough to keep motorists quiet by announcing some cuts last week when the wholesale price continues to go lower and lower.

“Unfortunately, despite the supermarkets announcing cuts, RAC Fuel Watch data clearly shows that the average price of fuel sold at supermarkets hasn’t yet gone down by that much. This goes to show that several supermarkets operate regional pricing models rather than charging their customers the same price wherever they are, or indeed having price caps which guarantee customers pay a set amount or lower wherever they are in the country.

“This is very important for the UK average prices as it means other retailers near to supermarkets don’t have to respond to their rivals’ lower prices. We believe this is why the UK average fuel price hasn’t gone down as much as it really should have.

“For that reason we also urge all fuel retailers to reduce their prices, however we do realise that it is not as easy for smaller operators as they do not sell the same volumes that the supermarkets do. This is why it takes longer for reductions in the wholesale price to filter through to all the country’s 8,400 forecourts.”

Press office team

Press office team

For journalist enquiries only

Share

Latest stories

Website preview
Private parking companies issue a record 14.4m tickets to drivers in a single year
Car park management companies made nearly 4,000 requests a day to the DVLA for vehicle keeper details from April 2024 to March 2025
media.rac.co.uk
Website preview
Portsmouth’s Chris Alexandrou named RAC Patrol of the Year
Roadside technician gets to drive a brand-new RAC Ford Transit van with coveted ‘P1 RAC’ numberplate
media.rac.co.uk
Website preview
Middle East tensions fuel pump price increases in June
Drivers urged to shop around and use myRAC app to save when filling up
media.rac.co.uk

Get updates in your mailbox

By clicking "Subscribe" I confirm I have read and agree to the Privacy Policy.

About RAC Media Centre

The RAC Media Centre provides journalists and news outlets with the latest motoring-related news, comment, data and research.

The RAC is an iconic UK brand, and provides complete peace of mind to nearly 14 million UK private and business drivers - whatever their motoring needs. As well as its premium nationwide breakdown assistance service – with an expert branded patrol workforce attending more than two million breakdowns every year – and European breakdown assistance products, it offers a wide range of market-leading products across insurance, legal services, vehicle inspections and service, maintenance and repair. Included in this is the first-of-its-kind nationwide Mobile Mechanics service which brings the garage to homes and workplaces. 

At the forefront of new solutions for business fleets and consumers, the RAC’s breakdown service is electric-ready with mobile EV charging technology and be called on using myRAC – its all-in-one route planner, fuel finder and breakdown reporting app

Contact

press.office@rac.co.uk

media.rac.co.uk