Supermarket fuel retailers have increased the prices Brits pay for petrol almost every single day for THREE MONTHS – and when prices weren’t going up, they were remaining the same.
Petrol prices at the UK’s big four supermarkets have not gone down since 21 February, new data from RAC Fuel Watch has revealed.
Unusually, the supermarket petrol price increases have come despite other fuel retailers being able to lower petrol prices five times in the same period.
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The average price of a litre of unleaded is now 8.61p higher across the UK since late February – but has risen almost 10p a litre at supermarkets, to an average of 125.44p.
“It is concerning to see the supermarkets, who many drivers trust to provide them with good value, putting up their prices when other smaller retailers have actually being fairer with their customers by more closely mirroring movements in the wholesale price,” said RAC fuel spokesman Simon Williams.
“The supermarkets appear to be protecting profits by being overly cautious about not getting caught out by the odd day of lower wholesale prices in what they believe is a consistently rising wholesale market.”
As for diesel, he added, few fuel retailers are passing the wholesale cost savings onto motorists, “perhaps in an effort to subsidise the price of petrol”.
The RAC warned that global oil prices are going up, due to a shortage of supply. This is causing forecourt prices to rise in Britain.
“We can only hope this isn’t going to continue for too much longer, otherwise we will see a return to the five-year high prices of last October when a litre of petrol was nearly 132p and diesel was 137p.”