The average price per litre for diesel is 155p, which is 5p more expensive than the second highest average price per litre in Belgium and Ireland, which is 150p.
Why do costs seem so high?
RAC findings show that the margin merchants are charging, which is the difference between wholesale costs and the amount it is ultimately sold for excluding VAT, is far higher than the long-term trend.
The corporation stated that the amount can be attributed to a lack of competition.
It’s noteworthy that the average price of diesel in Northern Ireland is only 144.9p – 10p, indicating that there is more competition for fuels there in the absence of supermarket dominance.
According to the numbers, drivers are currently bearing an 18p margin even though the long-term average is 8p per litre.
Reduced gasoline taxes.
The increase occurs even though the government reduced the automobile fuel tax by 5p in March 2022 to assist drivers who were struggling with rising oil prices as a result of Russia’s invasion of Ukraine.
According to RAC research, even European nations with higher gasoline duty rates generally spend less on automobile fuel.
Even though Italy has the joint highest fuel tax in Europe, at 148p per litre on average, diesel there is still 7p less expensive than in the UK.
