New research has found that the price of fuel has jumped 10p since the start of the year as drivers adapt to prices getting more expensive.
Drivers of diesel cars felt the cost hikes particularly harshly with many motorists “seriously overcharged” this year.
According to RAC Fuel Watch, the average price of a litre of petrol increased by 3p to 150p in April alone with average diesel prices rising by 2p per litre to 157.8p last month.
The price increases mean that drivers are paying roughly £5.50 more to fill up a standard 55-litre family car now than they did last year.
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The average trip to the filling station now costs £5.50 more than in January
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Due to costs rising, the RAC has called on the Competition and Markets Authority (CMA) to address the “glaring issues” with fuel retailing.
The motoring organisation detailed how it wants the CMA to tackle “unfair” retailer margins which result in fuel being more expensive in some locations than others.
In January, the CMA announced that it would look into the rising fuel prices to determine whether it was still competitive for drivers.
The review found that competition was not working as well as it should be, with the Government being particularly concerned about the impact this has on drivers.
Now the RAC is calling for fairer margins at filling stations so drivers can benefit from the same fuel prices.
The current system means that fuel in some parts of the country is more expensive or cheaper depending on the location.
A report from the RAC highlighted the disparity and found certain Asda fuel stations to be more expensive than others, while motorists could purchase the cheapest petrol at Tesco forecourts around the UK.
Simon Williams, fuel spokesman at RAC, said: “Drivers are once again having to dig deep just to go about their daily lives.
“Our data shows petrol and diesel have now gone up 10p a
litre so far this year on the back of further increases in April of 3p and 2p
respectively.
“Some of this is down to the oil price and the
pound-to-dollar exchange rate making wholesale petrol more expensive for
retailers to buy.
“But unfortunately, it’s also very apparent that retailers
are making massive margins on diesel. Worryingly, the CMA’s warning shot about
higher retailer margins at the end of March appears to have fallen on deaf
ears, meaning drivers are once again being seriously overcharged for diesel.”
The CMA has been reviewing the price of fuel since the energy crisis in 2022 which skyrocketed costs for drivers.
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Fuel has risen by 10p per litre since the start of the year
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The Government recently announced its intention to explore law changes which would see tankers carry more fuel than normal during times of crisis, like in 2022.
Following a public consultation, it said there was appetite for such rules to be introduced to protect motorists at the forecourts.“
Commenting on the fuel report, Gordon Balmer, executive director of the Petrol Retailers Association warned that petrol retailers are operating on “razor thin margins” in a highly competitive market.
He said: “It is disappointing that we are constantly having to devote time and resource to correcting the inaccurate narrative offered by some commentators about pump price increases.
“We are doing all we can through the appropriate policy channels to address this issue, while others would prefer to offer criticism without taking the time to understand how the industry works.”
