Despite record drop in pump prices, UK petrol drivers still get ‘low deals’: RAC


Gasoline drivers continue to get ‘low deals’ despite record drops in monthly pump prices, according to a new RAC analysis.

The British car service company said on Monday that the new prices are “quite a long way” from what it believes is fair.

according to RAC fuel monitoring analysisThe average price of petrol in the UK was 169.8 pence per liter on 31 August, down more than 12 pence from the price on 1 August, according to the UK. This was the biggest monthly drop ever and prices are expected to fall further.

This means that drivers have spent about £6.77 less to fill up their 55 liter petrol cars than they did a month ago.

However, the RAC said the price cuts did not fully reflect the drop in wholesale prices.

“By the end of August, wholesale prices were lower than they were at the beginning of the month. So even considering the buying cycle, there is a very strong case for the biggest sellers of fuel to drive down front yard gasoline prices even further.” RAC spokesman Rod said. Dennis said in a statement.

“While allowing a generous ten [pence] Gasoline should sell for about 161 pence a liter at the pump, he said, and there is a real zip code lottery in petrol prices, and drivers have to shop around for better prices. added that it means

Petrol prices varied across UK regions on 31 August, ranging from 167.22 pence per liter in Northern Ireland to 170.89 pence per liter in South East England, according to the RAC.

The average diesel price per liter fell by 8.35p in August from 192.06p at the beginning of the month to 183.71p at the end of the month. Prices range from 180.58 in Northern Ireland to 184.61 in South East England.

The RAC said it believed it “more fairly reflects wholesale prices” than gasoline.

Taxes, including fuel tax and VAT, accounted for approximately 48% of average gasoline prices and 49% of average diesel prices on 31 August.

In March, the UK government cut the fuel tax by 5 pence per liter (from 57.95 pence), but the RAC analysis By August, only one of the 13 EU Member States that had introduced fuel tax cuts or fuel discounts had cut petrol prices less than the UK, and diesel had less cuts than the UK. Only one country.

Dennis called on government ministers to propose “substantial cuts” in fuel taxes and to consider “a more generous aid package offered to people in other countries across Europe.”

It’s the last day of work for most ministers as new Prime Minister Liz Truss is set to take office on Tuesday. Boris Johnson’s successor has previously promised cuts in fuel taxes but has remained tight-lipped about the details of her plans to tackle the cost of living crisis.

Lily Zhou

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Lily Zhou is an Ireland-based reporter focusing on UK news. Lily said she attended the Chinese edition of The Epoch Times for the first time before she focused on the UK in 2020.