UK petrol and diesel prices: 5p tax cut implies just 3p off at the pumps

UK motorists are paying an average of £1.64 for a litre of unleaded. With greater pressure on diesel prices, some UK chauffeurs should pay even much more – the most recent RAC figures report an average diesel cost of £1.77 a litre.
However, numerous motorists are already paying considerably higher prices per litre than those averages, with reports of diesel and premium grade petrol prices breaking the £2 a litre barrier by large margins on some forecourts.

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According to the RAC, last week’s fuel responsibility cut ought to have lowered the cost of filling an average family car from £92 to £89 if filling up with petrol, or from £98 to £95 when filling with diesel. even those marginal gains have not been met, as sellers appear reluctant or slow to pass on the full responsibility cut.
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The RAC said chauffeurs would be “disappointed that prices haven’t come down further”, but because sellers have to wait for fresh deliveries to purchase at the lower rate it could take some time for the cut to feed through.
Even if the responsibility cut is passed on in full to drivers, its potential affect on prices has been described as a drop in the ocean.
When Chancellor of the Exchequer announced the responsibility cut last week, RAC fuel spokesman Simon Williams said: “The window for pump prices to come down appears to have been well and really closed, with both oil prices and for that reason wholesale fuel costs once again rising, putting yet much more pressure on households and businesses.   In just the last week, the average cost of a litre of petrol has gone up 3.5p and diesel by a staggering 5.5p.

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