Wednesday, October 12, 2016

As oil rises & Sterling weakens Fuel Suppliers opportunistically fleece UK Drivers at the Pumps. The APPG* on Fair Fuel for UK Motorists and Hauliers calls for the introduction of a new independent watchdog to monitor fair pricing and transparency at the pumps. FairFuelUK supporters are incensed by the latest blatant rocket increases in petrol and diesel, that will impact on inflation and growth in the economy. 

FairFuelUK said: 'In the 38 days Brexit to the 1st of August wholesale fuel prices fell 5%, oil dropped 10% yet pump prices hardly moved. But in the 11 days between 27th of Sept and 7th October wholesale prices moved up 5% so pump prices rose almost overnight and are continuing to climb. Look at the data below and you’ll see the classic Rocket and Feather scenario. The numbers don’t lie. Pump prices soar almost instantly at the slightest rise in oil and wholesale price movements yet take weeks to go down when market prices fall. Every driver in the Britain knows this all too familiar situation and in the next few weeks the fuel supply chain will repeat these almost instant pump prices rises again and again'.

  • Charlie Elphicke MP for Dover said: 'It's clear drivers are being ripped off by greedy big oil companies and others in the fuel supply chain. As pump prices head towards £1.20 we can see how prices fall like a feather but jump like a rocket when the oil price changes. The Government should set up PumpWatch - a powerful watchdog to ensure millions of drivers get a fair deal. We must build a Brexit Britain that works for every family, every small firm and every driver - a Britain that works for everyone must include a fair deal on fuel prices.'

  • Quentin Willson, TV Motoring Journalist & FairFuelUK lead campaigner said: ‘In post-Brexit Britain when we badly need to pull together, 37 million drivers are being cruelly fleeced. Pump prices rise overnight but take weeks to go down. Drivers glumly watch this exploitation daily but the government does nothing. With the pound falling and oil rising we’ll be paying £1.20 a litre within days with more fast rises to come. The fuel supply chain is making opportunistic profits while Sterling tanks.'

  • Rob Flello Labour MP, Transport Select Committee member and Chair of the Freight Transport Parliamentary Group said: "Motorists and professional drivers continue to be ripped off by an industry that hides the true costs of producing our fuels. The new Prime Minister has the chance to end this disgrace. Of course the fuel industry could voluntarily stop profiteering, but without government intervention there's no sign of that happening."

  • Howard Cox, Founder of the FairFuelUK Campaign said: "We are hearing that pump prices hitting £1.40. This clandestine world of the fuel supply chain needs a pricing watchdog with teeth, to protect UK’s 37m drivers. We are continually told that fuel suppliers pass on oil price changes at the pumps in 6 to 7 weeks. This may be the case when oil falls, but when it rises covert greedy fuel businesses hike pump prices in substantially less than 7 days. It's also critical that this Brexit Government should cut fuel duty now to support the economy and everyone in the UK.”

  • An independent retailer who wants to remain anonymous due to commercial threats from his wholesaler told FairFuelUK: "My fuel wholesaler is doing us again. They normally work a week in arrears - always have done so with prices changing on a Tuesday morning. THIS week however, they are changing our prices to commence tomorrow to enable them to earn extra at the expense of us independents and my customers. Shocking behaviour !!”
Data sourced from RAC Foundation, Portland Fuel Pricing and FairFuelUK Supporter Pump Watch

Please donate to help the fight for lower fuel prices and a better deal for drivers

Share this Post: