Diesel Price Inflation Unfairly Costs UK Drivers Billions

FairFuelUK report reveals excessive diesel prices and demands pricing watchdog

A new report by FairFuelUK reveals that fuel suppliers are intentionally inflating diesel prices, causing UK diesel drivers to pay over £1.3 billion extra at the pumps since the beginning of the year. The campaign group argues that if diesel were sold at a fair price, inflation would be below 10% and potentially closer to 9%.

FairFuelUK insists that diesel pump prices are 17.45p per litre higher than necessary, based on average petrol wholesale costs. The group states that the government and the Competition and Markets Authority (CMA) seem content to let this profiteering continue. The higher diesel prices have resulted in the government benefiting from £6 million per day in extra fuel duty and VAT. If diesel prices matched petrol wholesale costs, filling prices would be below £1.50 per litre.

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Howard Cox, founder of FairFuelUK, accuses the Treasury of “fleecing an extra £6 billion to £8 billion out of diesel drivers every single day.” The group supports the ‘PumpWatch’ campaign, advocating for a watchdog to oversee fuel prices at the pump. MPs, including Penny Mordaunt, Leader of the House of Commons, Dame Andrea Leadsom, and Craig Mackinlay, chair of the Fair Fuel All-Party Parliamentary Group, back the campaign.

The FairFuelUK report highlights the excessive diesel price inflation in the UK, negatively impacting drivers and the economy. The campaign group calls for the introduction of a pricing watchdog to ensure fair and transparent pricing at the pumps, garnering support from MPs across the political spectrum.

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