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The average cost of fuel in the UK has risen by a dramatic 27%, roughly $10 or £7.45. This cost is yet to be passed onto the consumer but that pressure is unlikely to last for too long.

Supermarket giants have held firm in what could be seen as a battle of the wills leading up to the busy 2020 Christmas period, but that cost will eventually end up at the pumps.

The average price to fill a car of around 54 litres would be £63 at supermarkets, or around £66 at non motorway garages. Petrol prices actually decreased slightly more than diesel throughout November 2020.

An RAC spokesman said

Simon Williams, RAC “The situation for diesel drivers is even worse as pump prices were around 7p a litre more expensive than they should have been, meaning retailers should have passed on some of this to drivers with a sizable cut.

“Instead they decided to make bigger margins, presumably to make up for lost revenue due to the reduction in driving caused by the pandemic. With the diesel wholesale price increasing by nearly 4.5p in November retailers are even less likely to pass on the extra 3p of margin they’re still benefiting from.”

The RAC says the jump in the price of oil was caused by news of several viable coronavirus vaccines, which signal an imminent return to normal life.”

Ready2Lease.co.uk provide brand new vehicles with petrol & diesel engines. Ready2lease also have a specialist offering on new electric vehicles and electric charging points for the home.

Fuel prices remain the same despite soaring increase in the cost of oil

15th December 2020

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