They spoke out after weeks of criticism from motoring groups and fuel price campaigners that supermarket petrol stations are failing to reflect plunging wholesale fuel prices.

Data supplied by the AA and RAC has consistently shown costs for unleaded and diesel becoming cheaper at many independent forecourts, with supermarket fuel at around average or just below average levels.

They argue the sector should be leading the way on fuel prices due to its bulk-buying power, after Brent crude oil nudged levels not seen since January on Tuesday.

The pair are pushing their case at a time when the industry regulator is investigating British fuel price behaviour.

RAC fuel spokesman, Simon Williams, said: “There is yet more pressure on the biggest fuel retailers today to pass on savings to drivers as the price of oil has dipped below $80 for the first time since the start of the year causing the wholesale cost of petrol to tumble to 105p a litre and diesel to 119p.

“If a cut of at least 10p a litre doesn’t come soon it will be yet more evidence of ‘rocket and feather’ pricing for the Competition and Markets Authority (CMA) to take note of.

“The disparity between average pump prices at 158p for petrol and 182p for diesel and their wholesale equivalents is truly shocking.

“Even taking account of major retailers’ buying cycles, we can see no justification for them not cutting their prices significantly.”

UK supermarkets have historically charged around 3.5p per litre less at the pump than the UK average.

Fuel was effectively subsidised as part of the big four chains’ efforts to grow their respective grocery market shares.

But that changed last year when COVID pandemic restrictions ended and oil prices shot up – pushed even higher this year by the effects of the war in Ukraine.

The source suggested that the increased costs that supermarkets were grappling, largely linked to the war, meant they were now more focused on delivering value in areas other than fuel to keep essentials down in price as much as possible.

They said that, as a result, fuel was no longer a loss leader and pre-pandemic pricing behaviour was “gone”.

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Set up in 2012, PIS specialise in forecourt installation. Its clients include Maxol, Applegreen, Texaco, Topaz and Solo.

Its new owner, Lancashire-based LCM fuel, has been involved in the fuel, energy and infrastructure sector for 35 years.

The company said PIS Ireland will benefit from new business opportunities, an expanded fleet, and wider petrochemical services for the British market.

General manager of the Belfast firm, Colin Doyle, said the two businesses complement each other well.

“Since we established PIS Ireland in 2012, the company has gained a prominent reputation within our sector, and we have formed strong relationships with a multitude of clients across Ireland and the UK,” he said.

“As such, we are now in an excellent position to achieve considerable further expansion alongside the LCM team.”

LCM is headed by Belfast-born chief executive Richard Wallace.

“It has been a long-term goal of LCM Environmental to acquire an Irish base and expand overseas,” he said.

“We are happy to announce that this is now a reality, and we look forward to integrating PIS (Ireland) within the company.

“PIS Ireland has accomplished significant growth over the past 10 years and has taken over a big share of the retail and commercial market throughout the island of Ireland and completed fuel management and forecourt installations in England.

“They have shown remarkable skill sets and determination in developing their business and upskilling their workforce. Becoming a part of the LCM group was the logical next step in their expansion plans – and one that has been completed successfully in a seven-figure deal.”

He added: “After several acquisitions, the start of the new LCM Group marks a new beginning for us and as a business, we are more determined than ever to keep growing within the industry and reach new heights in the coming months.”

The acquisition was facilitated by SCC Accountants (Sean Cavanagh and Kathy Daly) and O’Reilly and Stewart Solicitors (Seamus McGranaghan and Conor Cleverley).

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The fuel company announced that for one day only it would be charging 1.31.9p per litre of petrol and 1.55.9p per litre of diesel.

There were reports of large queues and gridlock traffic in Crumlin caused by the garage’s offer.

This marks a significant decrease in fuel prices in recent months. According to data published by Statista, diesel was the most expensive conventional motor fuel in Northern Ireland in September 2022, at an average of 178.6 pence per litre.

Go garages operate a ‘self-pump’ format with customers having to pay by card prior to pumping their car.

They made the announcement on social media, but have stressed the American Thanksgiving-themed offer only applies to certain locations in Northern Ireland.

Customers were able to receive the deal at their garages in Portadown, Carrickfergus, Cookstown, Crumlin, Yorkgate, Great Victoria Street, Grand Parade, Twin Spires, Crewcatt, Ballynahinch, Dunman Cookstown, A1 Banbridge, Mallusk, Armagh, Moyola, Cameron Stewarts Cookstown, Lissan, Moscow Road, Landscape Crumlin Road, St. Marys Road Liverpool, LCC Oil Ballymena and  Antrim Road Service Station Belfast.

The deal ran from 7am-7pm and only applied to one transaction per customer and only to vehicles, with no tanks or fuel cans allowed.

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The move comes as the firm looks toward a future where petrol and diesel sales make up an increasingly smaller portion of its revenue.

Retail floorspace of forecourts in the Republic is currently limited to 100 sqm while there is no such cap in Northern Ireland.

The 100 sqm limit can only be breached in exceptional circumstances when permitted by a local council.

Maxol chief executive Brian Donaldson said the relevant planning laws haven’t been reviewed since 2012 and insisted they are “very much out of date”.

Maxol, owned by the McMullan family, has 242 outlets across the island of Ireland, including 112 that are company-owned.

Last year, its profit before exceptional items jumped 57% to €27m, as it continued to benefit from the easing of pandemic restrictions and surging numbers of staycationers across the island. The group’s profit after tax was €22.8m. The group posted a €17.8m profit in 2019.

Mr Donaldson said that Maxol’s forecourts in Northern Ireland are much bigger, giving it more scope in its retail offering.

The group, more than a century old, traditionally focuses on sites in areas close to residential and business areas, rather than on motorways or major roads.

“What we have seen since September is that the double-digit decline has reduced to a single-digit decline,” he said. “Volumes have not fully recovered back to 2019 levels. It is edging closer after a difficult start. That’s probably no surprise because of hybrid working.

“It’s also no surprise because fuel behaviour patterns have changed with the price of fuel. People did and have cut back. But I think what we’ve benefited from is the large business customer sector that we serve through our fuel cards business.”

Maxol is now planning to roll out two electric vehicle charging hubs, in Ballycoolin in Dublin and Newbridge in Co Kildare, as it continues to probe the best service model for consumers.

A dedicated Maxol electric vehicle hub will in December at Kinnegar in Co Down.

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In many forecourts across Ireland, the average price of petrol now sits at €1.77, which is 7 cent less than in October, while diesel is €1.96, down 6 cent.

One of the cheapest fuel stations in Ireland, Top on the South City Link Road in Cork is currently selling petrol at €1.65 and diesel at €1.85, according to pumps.ie. This is down from prices hitting highs of €2.20 a litre for petrol and €2.10 a litre for diesel over the summer months.

However, AA Ireland are advising motorists this dip in price may not last for long and we could see prices crawl back up as soon as early December.

Fuel prices could be impacted once more if further EU sanctions are placed on imports of crude oil from Russia due to the ongoing war between Russia and Ukraine.

Paddy Comyn from AA Ireland told Newstalk: “Things could change quickly as the EU considers further sanctions on Russian oil.”

A G7 price cap, and EU plans to ban imports of crude oil from Russia on December 5 are the main factors behind this Mr Comyn explained.

He added: “There is a ban on Russian oil across Europe and all products set to be banned by February.”

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