UK fuel prices: only 1 in 10 petrol stations bring down petrol and diesel cost to fair price, claims RAC

Only 10% of filling stations are charging drivers a fair price for fuel, with independent forecourts leading the way, according to the RAC.

Wholesale fuel costs have fallen substantially over the last six weeks but the motoring organisation says only a tiny proportion of retailers have cut their prices to accurately reflect this.

It has urged filling stations to “do the right thing” and bring respite to drivers struggling with the current cost of living crisis.

Based on the latest wholesale fuel prices, the RAC estimates a “fair” price for petrol is 174p per litre, while diesel should be around 189p per litre. That factors in the wholesale cost to retailers, a 7p per litre margin and VAT.

On average, a litre of petrol is currently around 187p per litre and diesel close to 196p, according to analysts Experian Catalist.

Based on the RAC’s survey of 4,500 filling stations, only 157 are charging between 170.9p and 179.9p for petrol while 250 are charging less than 189.9p for diesel.

The other 90% are charging more than 180p for petrol and almost 1,000 are charging in excess of 190p for unleaded.

Supermarkets have traditionally been the best-value filling stations but the RAC study found independent forecourts are currently leading the way.

Of the 157 selling petrol at less than 180p, 125 are independents, 28 are major supermarket sites and four are owned by oil companies. Similarly, 192 of those selling diesel at less than 190p are independently owned with just 43 being run by major supermarkets and 15 being owned by oil companies.