Labour are still ignoring rip-off prices at the pumps – London Business News | Londonlovesbusiness.com

Date:

Share:

[ad_1]

According to data sourced from the RAC Foundation, oilprice.com, and exchange rate sites, significant negative trends occurred in fuel pricing and profits between June 18, 2025, and August 12, 2025 (roughly an 8-week or 2-month period).

During this time, the price of Brent Oil in Sterling (£) dropped by 13.54%, despite a 1.19% decrease in wholesale petrol prices, pump prices for petrol rose by nearly 2%.

Wholesale diesel prices declined by 3.7%, yet the cost of filling up with diesel increased by 3.10%.

Retail petrol profit per litre grew by over 11%, resulting in an extra £2.09 paid out per average family car fill-up.

Retail diesel profit per litre surged by more than 26%, amounting to an additional £4.55 per average family car fill-up.

More than £4.5 million of wholesale falls have not been passed onto motorists every day in this period. That is approximately £250m held back since June 18th, which has been added to inflationary pressure.

Claire Coutinho MP, Former Secretary of State for Energy Security and Net Zero, and now Shadow Minister for Equalities since 2024, said, “We set up Pumpwatch to prevent drivers from being overcharged at the pumps.

“With the price of oil falling, motorists should be seeing lower prices. However, Ed Miliband only cares about his eco zealotry, not ensuring drivers get a fair price.

Howard Cox, Founder of FairFuelUK, added, “Opportunistic profiteering continues to be rife at the pumps.

“Inflated Diesel Prices (the commercial lifeblood of any economy), in particular, are damaging economic growth, impacting inflation and businesses hard.

“The Conservative Government introduced FairFuelUK’s PumpWatch in January 2024; yet, this pricing watchdog has been scrapped by Labour in their pursuit of their bankrupting Net Zero fantasy and their continued ideological and political hatred of drivers.

[ad_2]

Source link

━ more like this

Sends shares Q1 2026 business update and product progress

Sends reported Q1 2026 updates sharing news on digital cards, app redesign, ClearBank integration, and fintech industry recognition. Sends, a fintech platform operated by Smartflow...

We swipe our phones all day, and scientists just ranked which ones are the most tiring

We all know staring at your phone for hours isn’t great for mental health. But what about your fingers? Previously, researchers couldn’t measure...

Two suspects have been arrested for allegedly shooting at Sam Altman’s house

OpenAI CEO Sam Altman's house may have been the target of a second attack after San Francisco Police Department arrested two suspects for...

You Can Soon Buy a $4,370 Humanoid Robot on AliExpress

Listing consumer electronics on the internet's large ecommerce marketplaces is a key step in “democratizing” the products, allowing them to be purchased by...
spot_img