race Archives - Ireland's Forecourt & Convenience Retailer https://forecourtretailer.com/tag/race/ Ireland's Only Forecourt & Convenience Retailer Fri, 10 Jun 2022 09:21:55 +0000 en-GB hourly 1 https://wordpress.org/?v=6.5.2 https://forecourtretailer.com/wp-content/uploads/2021/03/cropped-IFCR-Site-Icon-32x32.png race Archives - Ireland's Forecourt & Convenience Retailer https://forecourtretailer.com/tag/race/ 32 32 94949456 Cost of litre of petrol in UK rises more than 7p in a week https://forecourtretailer.com/cost-of-litre-of-petrol-in-uk-rises-more-than-7p-in-a-week/ Fri, 10 Jun 2022 09:21:55 +0000 https://forecourtretailer.com/?p=20574 The RAC has warned that a new round of fuel price records have been set in the UK with both petrol and diesel rising by

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The RAC has warned that a new round of fuel price records have been set in the UK with both petrol and diesel rising by a penny in 24 hours.

It comes after the cost of filling an average tank of petrol hit the £100 mark on Thursday.

RAC fuel spokesman Simon Williams said: “Unbelievably the average cost of a litre of petrol has gone up by more than 7p in just a week to 183.16p , and diesel by 4.5p to 188.82p.

“Other price records have also unfortunately been set this morning with the average cost of a litre of diesel at a motorway services passing the £2 mark for the first time ever (200.99p). Petrol at the motorway is also at another record of 197.18p.”

Mr Williams said it is becoming clearer by the day that the UK Government must take further action to reduce the enormous financial burden on drivers.

“But based on statements given yesterday it seems fixated on ensuring retailers are passing on March’s 5p duty cut fully,” he said.

“In doing so, the Government is ignoring the fact that wholesale costs of fuel have absolutely rocketed since then with petrol having gone up 24%, or around 30p per litre, and it’s these higher costs that are driving the current increases at the pumps.

“The Government needs to recognise that the 5p duty cut is therefore a drop in the ocean and more needs to be done now to support drivers who are feeling the pain every time they go to fill up their cars.

“It should also not be forgotten that as fuel prices continue to rise, so does the amount the Government makes in VAT. The 5p the Chancellor gave away in his duty cut in March has already been replaced by the 5p extra he is now making in extra VAT following the invasion of Ukraine just a month earlier. A temporary cut in VAT on fuel, or a deeper duty cut, are surely what is needed now.”

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UK petrol price sees biggest daily jump in 17 years https://forecourtretailer.com/uk-petrol-price-sees-biggest-daily-jump-in-17-years/ Wed, 08 Jun 2022 09:32:45 +0000 https://forecourtretailer.com/?p=20536 The RAC says the average UK petrol price has seen its biggest jump in 17 years. RAC fuel spokesperson Simon Williams said the average price

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The RAC says the average UK petrol price has seen its biggest jump in 17 years.

RAC fuel spokesperson Simon Williams said the average price of petrol climbed more than 2p (2.23p) a litre on Tuesday taking it to nearly 181p a litre (180.73p).

“Diesel increased by almost 1.5p to yet another record high at 186.57p. A full tank of unleaded has now shot up to £99.40, moving us ever closer to the milestone £100 petrol fill-up – an unfortunate landmark we may reach as soon as tomorrow,” he said on Wednesday morning.

“RAC Fuel Watch data also shows that Asda hiked its average petrol price nearly 5p a litre in a single day which is unheard of. As it stands the average petrol price at the big four supermarkets, which dominate fuel retailing, is now 173.37p, while diesel is 182.38p.

“This makes a litre of unleaded more than 7p cheaper at a supermarket which is significantly above the norm of 4p below the UK average. For this reason we expect the other supermarkets to increase their prices today to close that gap as Asda is traditionally the cheapest retailer.”

Mr Williams said the UK is experiencing unprecedented times in terms of the accelerating cost of forecourt fuel.

“Sadly, it seems we are still some way from the peak. While the average price of diesel is heading towards £2 a litre, the cost of wholesale petrol unexpectedly dropped around 5p a litre on Tuesday. If this price is maintained in the coming days it could stem the flow of daily record petrol prices,” he said.

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