The cost of filling up at the pumps has increased considerably in the last 3 months, but noticeably in the last 4 weeks, despite petrol prices remaining virtually unchanged, the wholesale price fell by over 6p. This welcome fall was not passed onto drivers. Similarly, there was a fall of 3.4p in wholesale diesel costs but pump prices rose nearly 3p. The net effect being, yet again 6p not being passed onto drivers.
Howard Cox, founder of the FairFuelUK Campaign, said: “It is way past time that the Treasury and the Government checked this chronic opportunistic profiteering in the fuel supply chain. In the last month nearly £500,000,000 has been held back from consumers at the pumps from the fall of wholesale fuel prices.”
Cox continued: “The perpetual fleecing of 37m drivers goes unbridled by a Government scared to take on the oil companies. FairFuelUK with hundreds of MPs and hard-pressed motorists yet again call on the Government, to create an independent pump pricing watchdog. The fuel supply chain has opportunistically wallowed in £15m+ of wholesale price falls per day in the last month without passing a single penny onto drivers and the economy. Meanwhile the Chancellor sits back and enjoys the resultant extra VAT bonanza too. Gas, Electricity, Water and Telecoms get pricing watchdogs, why not motorists too? We need ‘PumpWatch’ now.”
Quentin Willson, Co-Founder of the FairFuelUK Campaign and respected Motoring Journalist said: “We pay £50bn a year in tax on cars and vans. VED, fuel duty, VAT on duty, insurance tax, VAT on repairs, parts, Benefit in Kind on company cars etc. That’s nearly 7p in tax for every mile travelled. And then the greedy unchecked oil speculators fleece us even more. Who said that the cost of driving is going down?”
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