March has been the period of Corona-virus Govt strict instructions. Yet the Fuel Supply Chain has held back 17.6p (petrol) and 9.1p (diesel) per litre of wholesale falls from the pumps
This means the fuel supply chain has profited by over £400m during March or £15m per day or an estimated £12.50 per driver in March
Please note, it is not the small independent retailers benefiting from the crash in wholesale prices. Many are closing and may go bust. Greedy Oil companies and further up the fuel supply chain businesses have not passed on these falls to forecourts.
The only reason why pump prices are starting to fall is because of FairFuelUK’s pressure and Supermarkets enjoying a crisis cash bonanza and so able to pass on the falls to their forecourts
Pump Prices should be for Petrol 99p (Currently 113p) and Diesel Should 109p (currently 118p) per litre
At 31st March 2020 : Since Christmas Oil has fallen in sterling by 64% or £32.50
- Average UK Petrol Wholesale price has fallen 24% (down 28.1p per litre)
- Yet pump prices down only 11% (down just 11p) – At last a big drop yesterday but still no way near enough. Pressure from us and supermarkets making average pump price fall
- So, Petrol Profits up 300% or +17.1p per litre
- Average UK Diesel Wholesale price has fallen 19% (down 23.4p per litre)
- Yet pump prices down only 9% (down just11.5p) – At last a big drop yesterday, not as much as petrol but still no way near enough. Pressure from us and supermarkets making average pump price fall
- So, Diesel Profits up 242% or +11.9p per litre
In March during the height of the Coronavirus clampdown when compared to average values for the previous 3 months of December, January and February
- Oil Price collapsed by £24.50 per barrel
- Petrol Wholesale fell 22.9p per litre Yet Pump Prices fell only 5.3p. Profit up 17.6p per litre
- Diesel Wholesale fell 17.1p per litre Yet Pump Prices fell only 7.5p. Profit up 9.1p per litre
Hope it gets passed on
As ever the rich get richer