FairFuelUK calls for investigation into ‘dark and secret world of fuel prices’
The organisation said that pricing analysis over the last six months shows that oil has fallen by over 16% yet the price of unleaded petrol has risen by over 9%. In the same period some petrol retailer profit margins have climbed to nearly 15% on unleaded and over 21% on diesel.
While currency fluctuations, a strong American dollar, refining and distribution costs can influence forecourt pricing, FairFuelUK said that the lower price of oil caused by historic levels of global oversupply isn’t being transparently passed on to UK consumers.
Howard Cox, founder of FairFuelUK, said: “Figures from the last six months show that forecourts just aren’t reflecting oil price falls and now it looks like they’re keeping the price of unleaded artificially high to increase margins. 99% of FairFuelUK’s 1.1 million supporters want an enquiry into the dark and secret world of fuel prices. We’ve repeatedly asked the industry for an explanation but are still waiting.”