E10 petrol price ‘among highest in Europe’ as experts urge Chancellor to ‘intervene now’

Petrol prices: Howard Cox calls for cuts to fuel duty

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E10 petrol was introduced at the beginning of September and was hailed by the Government as a “greener, cleaner” fuel. It said E10 will not be more expensive for drivers at the pump than the then-current standard petrol, which was E5.

The Department for Transport report also clarified that although using E10 petrol can marginally impact fuel economy, it would generally only be around one percent.

Despite this, the RAC stated that the switch to E10 petrol in September played a part in the UK’s rocketing petrol price.

They also pointed to the margin which retailers are taking on every litre sold which is now greater than it was prior to the start of the pandemic.

Currently, RAC Fuel Watch has the cost of a litre of petrol at 146.66p, with diesel dipping back below 150p per litre.

The price of super unleaded, or E5, has also grown massively in the past few months, now sitting at 158.93p per litre.

RAC fuel spokesperson Simon Williams said: “Sadly, our data shows all too clearly that drivers are being taken for a ride by retailers at the moment.

“We can’t see any justification for the prices that are being charged at the pumps and are concerned that drivers on lower incomes who depend on their vehicles are being priced off the road altogether.

“The wholesale petrol price, which is what retailers pay to buy new supply, dropped by 10p from mid-November.

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“So we can’t see how any increase – let alone a 3p one – was warranted.

“We urge the Government to intervene now.

“It’s a sad fact that the Chancellor’s fuel duty freeze last month, while welcome, simply wasn’t anywhere near enough to ease the burden now being placed on millions of households who have no choice but to use their vehicles.

“While the Chancellor could introduce a temporary cut in VAT on motor fuel it might be better for the Government to ask the biggest retailers to explain why they’re charging such high prices for fuel when wholesale prices have dropped.”

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