Only one in ten petrol stations are charging a fair price for fuel and small local forecourts are giving drivers a better deal than the big boys, new findings have shown.
Recent falls in the oil price should mean that price at the pumps should be at least 10p-a-litre cheaper, around 174p-a-litre for petrol, and much lower than the country’s average 188p-a-litre.
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But an analysis by the RAC of prices at 4,500 forecourts has found that just 157 petrol stations were selling petrol for between 170p and 179.9p and 125 of those were independently owned.
Just 250 petrol stations were found to be selling diesel at a fair price too, and 197 of those were independently owned.
“Weekly wholesale petrol prices have fallen by a massive 17p a litre to 135p a litre…Yet average pump prices have reduced by a paltry 4p.
“It’s time for every retailer to do the right thing and cut their prices to more reasonable levels”, said Simon Williams, RAC fuel spokesman.
Last week a petrol station in Trago Mills, Newton Abbott, sparked half mile long queues after being crowned the cheapest forecourt for selling fuel at 164.9p-a-litre.
The findings were mirrored by a separate survey by the AA which has found that the bulk of Britain’s forecourts are holding back on lowering their prices meaning that petrol is still costing 50p-a-litre, or £27-a-tank, more than a year ago.
The AA said that while the supermarkets would have once led the charge on lowering price pumps as a tool to attract shoppers in, Jet is now undercutting traditional price-leader Asda.
“Motoring organisations have been told off by the fuel trade for daring to criticise its failure to pass on wholesale cost reductions rapidly.
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“Yet it seems that many cut-price small fuel stations didn’t get the memo from the big boys to keep pump prices artificially high for as long as possible,” says Luke Bosdet, the AA’s fuel price spokesman.
Industry sources have said that since Asda was bought by private equity and the billionaire Issa Brothers, who also own fuel giant EG Group, Asda has focused more on profits and cutting prices on food, where it faces tough competition from Aldi and Lidl.
The findings come a day after official figures showed that motorists had suffered a 42 per cent increase in fuel costs in a year.
However, the competition regulator recently excused petrol station owners and pointed the finger at oil refineries for ripping off customers.
How to cut your petrol costs
With inflation rising to 9.4% this week, you’ll want to know top tips on how to cut down on petrol and other bill costs.
Firstly, always make sure to keep an eye out for sneaky deals. For example, Asda was offering £5 off customers’ next shop if they bought fuel at the supermarket.
We’d recommend shopping around and finding the best price nearby.
It’s always worth a look at comparing prices, and heading to the cheapest competitor to make a saving.
The only problem when it comes to fuel, is that you need enough of it in the first place to travel further afield for the best costs.
To combat this, try driving when it’s warmer – car engines don’t need to work as hard in warmer weather, meaning less fuel is consumed.
That is because they are warmer when the car starts, and you are typically not using lights, heaters or wipers as much.
In terms of other ways to find cheap prices, Fleet News and Allstar lets you to check petrol prices across the counties so you can see how your region compares to the UK average.
The PetrolPrices app and website lets you check prices from more than 8,000 forecourts near you and using data provided by the public.
Comparison website Confused.com also has a petrol prices checker that lets registered users find petrol prices within a five, 10 or 25mile radius.
