UK no longer has cheapest petrol in EU
The UK’s boast that it sells the cheapest petrol in Europe before tax is no longer true, according to the AA Fuel Price Report.
Austria, which regulates fuel prices, has undercut the average pre-tax petrol price in Britain during 25 of the past 52 weeks. The AA claims this is even more remarkable when the pound’s stronger dollar exchange rate is taken into account. This puts European retailers at a significant disadvantage as wholesale fuel is traded in dollars.
If the euro had been stronger, fuel price regulation would have allowed Austria to undercut British prices by an even greater amount. In the UK, the average petrol price has fallen by 1.26p a litre, from 140.21p in mid September to 138.95p now. This is despite a significant 3p per litre cut by Asda.
This signals bad news for company car users that drive a petrol vehicle and highlights further the need action to tackle the growing fuel price problem.
Posted by Peter Atkinson
Have you been in an accident that was not your fault? Would you like your car repaired without affecting your no claims bonus and without raising your renewal premiums? Click here to start your claim today.