Petrol companies blasted by fuel campaigner as prices drop 'Profiteering is still rife!'

Petrol companies blasted by fuel campaigner as prices drop 'Profiteering is still rife!'
Georgia Pearce

By Georgia Pearce

Published: 05/01/2024

- 12:08

Howard Cox, Founder of the FairFuelUK campaign, has reacted to the drop in petrol prices for Britons, as figures have dropped by 6p/Litre for drivers.

Cox fumed that the profits however are "continuing to run rife" and claims the companies are benefitting from a "90 percent" profit on petrol and diesel.

Cox told GB News: "Fundamentally what we're seeing is actually the profiteering continues to run rife. Yes, we're delighted the pump price is coming down, but let me tell you a figure, since September of last year, pump prices have come down by about 6% in petrol, but wholesale prices have come down 13%, which means profit per litre has gone up nearly 90%, nearly double. The same is for diesel.

"The same picture across the country we're seeing is this variation of prices. For example, A BP garage in Birmingham is selling petrol 10P cheaper than it is in the Southeast. And that's why you know FairFuelUK, we're calling on a body called PumpWatcher, the independent consumer price regulatory body which I've been calling for on for five or six years backed by the competitions and market authority to be in place so we can get honest, fair and transparent pump pricing because we we're saying it's good news, which it is to a point.

"But then you look at say Northern Ireland where the pump prices are on average what, at least 5p a litre cheaper."


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