{"id":106825,"date":"2022-03-02T15:05:53","date_gmt":"2022-03-02T15:05:53","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=106825"},"modified":"2022-03-02T15:05:53","modified_gmt":"2022-03-02T15:05:53","slug":"diesel-and-petrol-prices","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/energy-news\/diesel-and-petrol-prices\/106825\/","title":{"rendered":"Reports claim diesel and petrol prices \u2018higher than necessary\u2019"},"content":{"rendered":"

Reports claim that the fuel supply chain are ‘profiting out of a crisis’<\/a>, as diesel and petrol prices are 10p to 14p per litre higher than necessary<\/h2>\n

With Brent Oil now exceeding $110 per barrel, diesel and petrol prices<\/a> will raise up to \u00a31.60 per litre in a matter of weeks, with predictions that prices could rise to \u00a31.80 per litre in a matter of months.<\/p>\n

Because of the prices, the government are seeing an annualised VAT windfall in excess of \u00a32bn.<\/p>\n

\u2018Having a huge impact on inflation\u2019<\/h3>\n

Robert Halfon, vice chair of the Fair Fuel APPG said: “Record fuel prices are just un-affordable and are having a huge impact on inflation.<\/p>\n

\u201cThe government need to look at either reducing VAT on fuel or reducing fuel duty. We also need a FairFuelUK<\/a> Pumpwatch monitor to ensure that prices are in line with wholesale oil prices.”<\/p>\n

\u2018Motorists continue to be over-charged for their fuel during a period of rapidly rising inflation\u2019<\/h3>\n

Craig Mackinlay, chair of the Fair Fuel APPG also stated: \u201cA PumpWatch monitor similar to Ofwat or Ofgem could ensure that reductions in oil prices are properly passed on to motorists at the fuel pump.<\/p>\n

\u201cIt is unjustifiable that motorists continue to be over-charged for their fuel during a period of rapidly rising inflation across the board. HM Treasury could also help by using the VAT windfall being derived from high current pump prices.<\/p>\n

\u201cThe cost-of-living crisis is already proving incredibly painful for many, and sanity needs be restored to petrol pricing as quickly as possible.”<\/p>\n

\n<\/div>","protected":false},"excerpt":{"rendered":"

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