Drivers warned they are 'losing cash every time they fill up'

Fuel retailers have been accused of exploiting the distraction of the General Election to maintain "persistently high" margins, according to a statement from the RAC.

The motoring organisation has pointed out that petrol and diesel prices in Britain are "far higher than they should be", highlighting that wholesale costs have dropped since late April. It's reported that the average cost for a litre of petrol at UK forecourts is 146.3p, which the RAC argues is "5p more expensive than it should be" when compared to Northern Ireland's price of 141.1p for the same volume.

Additionally, the UK has topped Europe's chart for the most expensive diesel for seven consecutive weeks, with an average price of 151.5p per litre, while Northern Ireland offers it nearly 10p cheaper at 141.9p. Analysis by the RAC shows that retailers' margins the difference between their purchase price for fuel and the selling price at the pump stand at 14p per litre for petrol and 16p per litre for diesel, significantly above the long-term average of 8p per litre.

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Simon Williams, RAC head of policy, commented: "Margins are once again staying persistently high, and drivers are paying the price."

He further explained, "Our data clearly shows that pump prices haven't fallen in line with the reduction in wholesale prices, so drivers across the UK with the exception of those in Northern Ireland where fairer prices are charged are once again losing several pounds every time they fill up."

Williams concluded with a call to action, stating: "We believe there's no good reason for retailers in Great Britain not cutting their prices at the pumps far further.

"We can only think they're hoping no one will notice due to the distraction of the General Election. We hope that the Competition and Markets Authority (CMA) is aware of what is going on and will use this to bring retailers into line as soon as it's able to."

The prices at petrol pumps are generally lower in Northern Ireland than the rest of the UK. This trend is partly ascribed due to competition from forecourts in the Republic of Ireland. UK-based independent fuel retailers have voiced concerns about escalating costs, citing business rates, energy bills, and wages as contributing factors.