Supermarkets are being blamed for not lowering gasoline prices even as wholesale costs are dropping.
According to the RAC, garages have not lowered fuel prices enough to match the "significant" price cuts on the other side.
The automotive group said the gap between pumps and wholesale prices was the largest in almost a decade.
Pump prices were around £1.76 per liter on Tuesday, which the RAC's analysis suggested. It should be about 1.62 pounds.
Fuel prices are finally starting to fall after hitting record highs this year.
At the beginning of the week, average petrol and diesel costs were retroactively £1.74 and £1.86 per liter.
This is based on prices from four large supermarkets includingTesco,Sainsbury's, Asda and MorrisonsI'm here.
Image:
SOPA Images/LightRocket via Getty Images)The average price was £1.24 and the diesel was £1.38.
After taking into account VAT, fuel taxes and "generous" retailer margins of 10 pence per liter, the RAC said, "Vestibules should soon be sold unleaded for under £1.62." said.
This is not the first time a major UK fuel retailer has faced scrutiny for keeping prices high on its pumps.
In early July, RAC data also revealed that garages were not returning savings.
Image:
Getty Images)The retailer's actions angered many across the country.
RAC spokesperson Simon Williams said:
"This is unprecedented as supermarkets are usually at least 3 pence a liter cheaper than the UK average."
Image:
Getty Images)Supermarkets typically tend to be cheaper than independent retailers due to more frequent fuel purchases . This means you can react quickly when wholesale prices change.
Mr. Williams explained how this is usually reflected in passing speeds.
He added: "Supermarkets account for much of all the fuel sold across the country and have not lowered prices as much as they should, meaning average prices in the UK have not fallen. A significant drop in wholesale fuels."
Image:
Getty Images)The difference between retail and wholesale prices has been Maximum.
The gap is now wider than it was at the start of the pandemic, during the lockdown, when oil prices plummeted to around £10.50 per barrel.
Crude oil has risen to nearly 82 pounds per barrel in recent months.
Image:
Getty Images)Before Russia invaded Ukraine in February, fuel prices were already
But the effects of the war aggravated the situation.
Sanctions against Russia, one of the world's largest oil exporters, have increased demand for oil from other producers, causing prices to soar.
Even though the UK imports only 6% of its oil from Russia, it is still affected by rising costs around the world.
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