The price of crude oil dropped to an 18-year low of less than $23 per barrel – equivalent to 12p per litre, cheaper than the 12.5p price of bottled water at Sainsbury’s.
“Now in a time of national emergency, when every family, worker, NHS professional, deliver driver, small and medium size business worry daily about their health and financial security, the big oil companies should step up to the plate. They must help the Government cut the cost or living and pass on quickly the fall in international oil prices to drivers. When the Coronavirus is over, those who helped the war effort will be judged, those who profiteered unnecessarily, will face harsh consequences ”
Robert Halfon MP
“The immoral fuel supply chain has been ripping off drivers to the tune of over £20m per day. It borders on criminal behaviour, using the Co-Vid 19 crisis as a smokescreen to fleece UK’s 37m motorists even more than their normal greed. Our essential workers need honestly priced fuel, so they are not under even more financial pressure to help us all. The perennial cheating of the world’s highest taxed motorists, every time oil prices change, must be scrutinised by an independent PumpWatch body. The under-pressure Government must act now, to stop this chronic consumer abuse once and for all.”
Howard Cox, Founder of the FairFuelUK Campaign
Since Christmas Oil has fallen in sterling by 68% or £34.80
- Average UK Petrol Wholesale price has fallen 25% (down 28.4p per litre)
- Yet pump prices down only 5% (down just 6.1p)
- So, Petrol Profits up 360% or +22.3p per litre
- Average UK Diesel Wholesale price has fallen 20% (down 23.9p per litre)
- Yet pump prices down only 5% (down just 9.6p)
- So, Diesel Profits up 270% or +14.3p 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 per barrel:
- Petrol Wholesale fell 22.6p per litre and Pump Prices fell only 4.8p. Profit up 17.9p per litre
- Diesel Wholesale fell 16.9p per litre and Pump Prices fell only 7.2p. Profit up 9.2p per litre
they have been ripping us of for yrs, the gov wil not do anything about it as they ar emaking a lot o fmoney out of it
Get a grip of this situation and stop the motorist getting ripped off.
It’s appalling how oil companies can still mark up and profit during these difficult times, they are no better then shops selling hand sanitiser for for £10 a bottle