In August, drivers faced one of the steepest monthly increases in fuel prices in over two decades, as recent data reveals.
In August, drivers faced one of the steepest monthly increases in fuel prices in over two decades, as recent data reveals.
The Competition and Markets Authority (CMA) attributed the recent rise in fuel prices since 2019 to lessened competition among supermarkets.
Following the competition watchdog’s decision to intensify scrutiny of the market, supermarkets and other prominent retailers have hastened their cuts to diesel prices, as reported by the RAC.
A leading UK motoring organization, the RAC, has accused retailers of artificially raising diesel prices at the pump, even though wholesale prices for diesel have dropped below those of petrol.
According to a report by a motoring group, despite similar wholesale costs, diesel is being sold at an average of 17 pence more per litre than petrol.
Germany and Italy have caused disruption to a proposed European Union to ban on new petrol and diesel cars as they demand exceptions to protect their influential automobile industries.
According to the AA, as petrol and diesel prices drop and the cost of electricity surges, the number of motorists interested in purchasing electric cars has significantly decreased.
Motoring groups warn that Britain’s electric car revolution is being held back by a lack of charging points and high plug-in prices.
The weakening dollar, Covid restrictions in China and falling oil prices have caused the price of petrol to plummet.
According to the AA, diesel is 23.95p per Liter more expensive than petrol.
Bruno Le Maire, French Finance Minister, said Tuesday that a solution must be found to end the week-long strike at French refineries which has been affecting French petrol stations for