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Supermarkets urged to cut fuel by at least 5p a litre 'immediately' to help struggling drivers

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Supermarkets are being urged to drop their fuel prices by 5p "immediately" as motorists struggle amid the current cost of living crisis.

The RAC said a lack of competitiveness has led to high prices which do not reflect the wholesale savings that supermarkets are making.

Supermarkets are currently enjoying margins of around 15p a litre on both petrol and diesel while hard-pressed drivers have to fork out for petrol at an unnecessarily high average price of 160.96p and 184.41p for diesel While supermarket stations have typically sold petrol and diesel at lower prices due to the large volumes they sell, they aren't passing on recent savings with petrol having dropped by 13p to 117p and diesel by 22p to 136p.RAC fuel spokesman Simon Williams said: "With many people struggling to put fuel in their cars it’s very sad to see the biggest fuel retailers taking advantage of their customers by charging far higher prices than they should be.

This is unfortunately a perfect example of prices falling like a feather, the opposite of them rocketing up as soon as the wholesale price rises significantly."The supermarkets dominate UK fuel retailing, primarily because they have traditionally sold petrol and diesel at lower prices due to the large volumes they sell, but sadly there is now a remarkable lack of competition among the four main players which means prices are far higher than they should be."If one of the supermarkets were to lead a round of price cuts, the others would follow suit which, in turn, would bring the average price of fuel down for the benefit of drivers everywhere.

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