Skip advert
Advertisement

Petrol prices hit a five-year low but there's further to go

Government under growing pressure to help motorists as experts say fuel prices are still too high

Low fuel prices

Petrol prices in the UK are at their lowest point for five years, with one forecourt having even dropped them below £1 a litre.

Yet Prime Minister David Cameron and Chancellor George Osborne have come under fire for not doing more to help out motorists. While they’ve called on oil companies to pass on wholesale savings to drivers, the amount taxed by the Government is at a six-year high. 

Advertisement - Article continues below

General Election 2015: who's on the side of motorists?

Currently, 70p of every £1 spent on petrol is destined for Whitehall coffers, and RAC Foundation director, Professor Stephen Glaister, said: “The Chancellor publicly urged fuel companies to pass on oil savings to motorists. Clearly he thinks the price of fuel is still too high. His easy solution is to cut duty further.”

The average petrol price now stands at 106.8p per litre with diesel 114p, and the RAC Foundation estimates UK drivers are £330m better off each month compared to last summer because of it. 

Prices are expected to keep falling, as supermarkets try to undercut each other. One retailer in the West Midlands took a stand against the price war, though, to show how costs are still too inflated.

Skip advert
Advertisement
Skip advert
Advertisement - Article continues below

Dr. Velautham Sarveswaran, who runs three Harvest Energy garages near Birmingham, dropped his petrol price to 99.7p per litre and still claimed he was making a profit. He told the MailOnline: “The supermarkets continue to make a fortune without passing the price cuts to their customers. It’s a scandal. They are cheating people.”

• Opinion: Young drivers are being priced off the roads by our 'leaders'

Those living in rural areas have a right to feel even more aggrieved, as petrol prices remain high. Better news is on the horizon, though, after a policy to offer a rebate to those in remote locations cleared a major European hurdle.

Currently, motorists in the UK’s most remote islands get a 5p-a-litre Government reduction, and this will be extended to 17 mainland areas in the Scottish Highlands, North Yorkshire, Cumbria and Devon once it gets final EU approval.

Chief Secretary to the Treasury Danny Alexander said: “This is great news for motorists in these areas, as their cars are a necessity, not a luxury. I want to make sure we’re ready to apply this as a top priority.”

What are the lowest fuel prices you've seen in your area? Let us know in the comments section below...

Skip advert
Advertisement
Skip advert
Advertisement

Recommended

Road tax set to rise in April: here’s how much more you’ll pay
Road tax documentation
News

Road tax set to rise in April: here’s how much more you’ll pay

Drivers with newer cars will now pay £10 more per year, although the biggest gas guzzlers fare even worse
28 Mar 2024
‘Secret’ UK courts are fast-tracking speeding fines say magistrates
Speed camera van window
News

‘Secret’ UK courts are fast-tracking speeding fines say magistrates

New guidance from Magistrates’ Association calls for reform and aims to expose ‘secret’ Single Justice Procedure system
26 Mar 2024
Low on stock: Only 1-in-10 UK supermarkets offer electric car charging
Polestar 2 and LEVC TX connected to Sainsburys EV chargers
News

Low on stock: Only 1-in-10 UK supermarkets offer electric car charging

A survey by Zap-Map and the RAC reveals only 13% of supermarkets are equipped with EV chargers, despite a 59% increase in the past year
22 Mar 2024
Mis-sold car finance scandal: could you be due compensation?
Missold car finance
News

Mis-sold car finance scandal: could you be due compensation?

Did you buy a car on finance between April 2007 and January 2021? You could be owed thousands!
21 Mar 2024

Most Popular

Road tax set to rise in April: here’s how much more you’ll pay
Road tax documentation
News

Road tax set to rise in April: here’s how much more you’ll pay

Drivers with newer cars will now pay £10 more per year, although the biggest gas guzzlers fare even worse
28 Mar 2024
Posh new trim level for Dacia Sandero while the Sandero Stepway gets more power
Dacia Sandero - front
News

Posh new trim level for Dacia Sandero while the Sandero Stepway gets more power

Both the Sandero and Sandero Stepway ranges have been tweaked, gaining more safety features to meet the latest regulations
26 Mar 2024
Car Deal of the Day: updated Skoda Enyaq at 0% APR and a free home wallbox charger thrown in
Skoda Enyaq iV - front cornering
News

Car Deal of the Day: updated Skoda Enyaq at 0% APR and a free home wallbox charger thrown in

Skoda’s family-friendly EV with 348-mile range is our Car Deal of the Day for 26 March
26 Mar 2024