Petrol stations have been accused of overcharging drivers after the competition watchdog reported a sharp rise in fuel profit margins.
Petrol stations have been accused of overcharging drivers after the competition watchdog reported a sharp rise in fuel profit margins.
Oil prices are hovering near their lowest point in four years, prompting renewed calls for fuel retailers to lower pump prices.
The AA has warned that petrol prices remain “uncomfortably close” to their peak levels from the first two years of the Ukraine war despite a global slump in oil prices.
Fuel prices across the UK have fallen to their lowest levels in three years, providing some relief for drivers ahead of Christmas, according to figures released on Wednesday.
The price of a litre of petrol has dropped to its lowest level in three years, according to industry data, due to decreasing global oil demand.
Petrol and diesel prices are dropping at their fastest rate this year, relieving motorists as electric vehicle adoption falters.
According to the RAC, petrol prices should be 6p per litre lower than drivers currently pay at the pump.
Drivers continue to overpay for fuel as retail margins remain “significantly” above historical levels, according to the Competition and Markets Authority (CMA).
UK drivers are paying the highest diesel prices in Europe, according to a new analysis by the RAC.
Shell’s earnings fell by nearly a third as the company adapted to reduced oil and gas prices.
Recent data indicates that Shell’s fuel stations in the UK are among the priciest, with the company’s UK outlets averaging 142.6p per litre for petrol and 151.2p per litre for
According to the RAC, petrol prices should have dropped by an additional 9p per litre due to the significant decrease in oil prices.