‘Pumpwatch’ call to rein in fuel prices

Savings worth an estimated £145 million were denied to drivers in the past month because fuel retailers failed to pass on cuts in wholesale prices, a campaign group has claimed.

A litre of petrol or diesel rose in price by around 1p in the four weeks to 23 July even though wholesale prices declined by as much as 3p, according to Fairfueluk.

UK drivers paid £2.20 more for every typical tank of fuel over the period – a total of around £145m – because the drop in wholesale prices was not passed on, analysis by the group shows.

Fairfueluk wants an independent “Pumpwatch” body to be set up to stop the “exploitation” of drivers. Fuel prices hit the highest level since September 2014 last month.