The RAC have stated concerns on the current supermarket fuel industry, with a lack of competition driving costing drivers an additional 3p on a litre of petrol, despite a second consecutive month in petrol price drops.
As only one of the four leading supermarket retailers takes the plunge to reflect the new drop in petrol and diesel prices, the UK average is negatively affected and ultimately results in the majority of UK drivers paying significantly more than necessary.
RAC fuel spokesperson Simon Williams states, “This is a highly unusual situation, the likes of which we haven’t seen before. If this new pricing behaviour continues into 2019 this could spell a bleaker year for drivers at the pumps no matter what happens to the price of wholesale fuel.”
However, whilst the uncertainty of supermarket fuel prices and consequentially smaller retailer fuel prices currently stands, Williams argues “Fortunately, despite the weakness of the pound against the dollar drivers are enjoying a cheaper time at the pumps than they were in the middle of 2018.”
Whether prices drop closer to the wholesale fuel prices is yet to be determined, but 2019 is forecast to – at least for the moment – cost less than last year with an overall drop in oil costs.