The motoring organisation said there is 'no good reason' why British fuel retailers are not cutting pump prices
British motorists are paying the highest prices for diesel in Europe, new analysis has revealed. Research carried out by the RAC said there is "no good reason" why British fuel retailers are not reducing pump prices.
Despite the 5p per litre cut in fuel duty in spring 2022, the UK has Europe's joint highest rate of duty on diesel with Italy at 52.95p per litre, but Italy's average pump price is 7p per litre cheaper at 148p. France's duty rate is the equivalent of just 1p per litre lower than in the UK, but its average price for diesel is 9p per litre cheaper at 146p, WalesOnline reports.
He said: "The average retailer margin on diesel - that's the difference between the delivered wholesale price and the retail price before VAT - is 18p. That's a shocking 10p more than the long-term average. "We can see no good reason why retailers in Britain aren't cutting their prices at the pumps. It's important to note that in Northern Ireland, where there is greater competition for fuel in the absence of supermarket dominance, the average price of diesel is just 144.9p - 10p less than the UK average, and petrol is 6p cheaper at 142.4p."
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