FFUK calls for fuel pricing investigation after six month cost analysis
FairFuelUK has called for UK fuel prices to be officially investigated following a six month pricing analysis which, according to the campaign, proves retailers are unfairly profiting from inflated pump prices.
The analysis of both oil and fuel pump prices was launched on 3 February. Its findings show that while oil prices fell by more than 16% during the six month period, diesel prices actually saw a 1.22% increase. The price of unleaded petrol rose by more than 9% in the period.
It also reported a 146.77% increase in diesel retail profits.
FFUK spokesman Quentin Willson said: “How can oil prices fall yet petrol prices go up? It doesn’t make any sense at all. Why won’t the fuel industry clearly explain these confusing discrepancies? 40 million drivers have a right to know”.
He added that the UK’s fuel pricing system “would confuse even Stephen Hawking”.
Howard Cox, co-founder of FFUK, accused retailers of “keeping the price of unleaded artificially high to increase margins".
“99% of FairFuelUK’s 1.1 million supporters want an enquiry into the dark and secret world of fuel prices. We’ve repeatedly asked the industry for an explanation but are still waiting,” he added.
FFUK said it will continue to call for pricing transparency and an official government enquiry.
By Laura Cullum