Over 230 Supporters Report Average Petrol Rise Of 8.7p And Diesel Rise Of 12.6p; 135 Reports Suggest Hikes Applied To Existing Forecourt PricesFairFuelUK analysis of fuel price reports from across the UK shows that, since 3 March, more than 230 supporters have recorded average petrol increases of 8.7p per litre and diesel increases of 12.6p per litre.
Of these, 135 reports indicate the hikes were applied to existing forecourt bulk stocks, raising concerns about rapid, widespread pump-price rises even before new deliveries to these forecourts.
As we write this, Brent Crude has fallen from $103 to $89 per barrel. I predicted that when Brent crude rose to $80-$90, prices would increase by 5-10p per litre. It appears my reports from around the UK have indeed come true, but fuel prices continue to rise even further despite the latest huge drop in oil prices. It strongly suggests profiteering, with the major culprits in the fuel supply chain being the large branded oil companies.
FairFuelUK is calling on retailers and regulators to explain the sudden increases and to provide transparency on the reasons for such steep adjustments so soon after the start of March on existing stocks. FairFuelUK says the world's highest taxed motorists and businesses are already feeling the strain from rising transport costs, and urges Government action to protect families and the economy.
Price changes on the forecourts remain unchecked, and that’s why I call on this Government to implement PumpWatch and prevent the opportunistic profiteering that remains rife.
I call for FairFuelUK’s PumpWatch to be rigorously and legally implemented. We will continue to see punitive hikes whilst this oil supply crisis grows, as the secret pump pricing algorithm in the Fuel Supply Chain, that makes no logical sense to anyone, will be ruthlessly exploited yet again by greedy opportunists.
And my call to keep fuel duty frozen for the lifetime of this parliament holds firm. But in the short term, amid this oil crisis, the Chancellor should cut fuel duty by 10p per litre to ensure inflation is not hit hard and economic growth is not slowed into negative territory.
Howard Cox. Founder of FairFuelUK
Thanks mainly to FairFuelUK, fuel duty has been frozen for
15 years and remains at its current level, which includes a temporary 5p cut.
Some armchair experts who despise supporting the UK’s 37 million drivers argue
that restoring or unfreezing fuel duty could generate more than £3 billion a
year. Utter nonsense!
The freeze on this regressive tax since 2011 means that
drivers have spent a larger portion of their disposable income, if any, in the
economy, and businesses have remained solvent due to lower-than-expected
transport costs.
Had the fuel price escalator been strictly adhered to, the UK
would now be facing a deep recession. It is now close to that situation.
No other tax exerts such a profound influence on economic
growth, inflation, employment, and business investment as the significant tax
on filling up at the pumps. Every part of our nation relies on road transport
for construction, small trade contractors, food, clothing, internet deliveries,
postal services, medical support, family cohesion, community interaction, and
mental well-being.
We heard from reliable Treasury sources that the Winter Budget may have introduced a 10p increase. Based on a reversal of Sunak’s 5p Covid
cut, along with an additional 5p per litre, which would have hindered economic growth.
Well thanks to you we stopped it happening AGAIN !
I will continue to fight hard and push Rachel Reeves to implement a sensible
fiscal policy by incentivising lower transport costs through keeping Fuel Duty
frozen for the duration of this Parliament. Additionally, I will ensure that FairFuelUK’s PumpWatch is fully operational to prevent opportunistic
profiteering at the pumps.
Howard Cox, Founder of FairFuelUK
1. ....Cut fuel duty big, to stimulate the economy, reduce inflation, increase consumer spending & generate other taxes from the resultant impact of lowering this regressive tax
Ensure our PumpWatch programme launched in 2023, that the CMA backed, is re-introduced with teeth to make petrol & diesel pricing at the pumps fair, honest & transparent
Scrap the 2030 un-consulted and needless ban on new petrol/diesel car sales. What's the point of bankrupting the economy? When the virtue signalling 2030, Diesel/ Petrol Ban will cost at least 5 times the alleged environmental benefits. It's fiscal insanity!
Stop the continuing cash grabbing vitriolic myopic local authority warfare on UK's 37m drivers (These include ULEZs, LTNs, 15 Mins Localities, Cycle Lanes that cause congestion etc)
Recognise motorists are not just cash cows to be demonised by politicians & much of the ultra left wing media, but instead are the essential social & commercial heartbeat of our economy. They must not be used as an excuse to allegedly improve the environment.
There is no scientific evidence to suggest that any increase in CO2 is linked to global warming. And that mankind cannot make any difference to climate change.
