Major retailers are failing to reduce petrol prices in line with falling wholesale costs, the RAC claims. PA
Major retailers are failing to reduce petrol prices in line with falling wholesale costs, the RAC claims. PA
Major retailers are failing to reduce petrol prices in line with falling wholesale costs, the RAC claims. PA
Major retailers are failing to reduce petrol prices in line with falling wholesale costs, the RAC claims. PA

UK petrol stations cling to high prices despite wholesale cost drop


Paul Carey
  • English
  • Arabic

Motorists are paying over the odds for fuel at UK forecourts as retailers fail to pass on a significant fall in wholesale costs, the motoring group RAC has warned.

The roadside recovery company said the wholesale cost of unleaded — the price when it arrives at forecourts — is now back down to its early May price of 131.75 pence ($1.61) per litre, which saw average pump prices of about 167p per litre.

But drivers are currently paying an average of 183p per litre at pumps across the UK despite the drop in wholesale costs, the RAC said.

It comes after fuel prices hit their highest-ever levels earlier this summer as the UK’s cost-of-living crisis began to bite, with the cost of filling an average tank breaching £100 and resulting in go-slow fuel protests on motorways. Last month, retailers were accused of “rocket and feather pricing” — hiking prices swiftly but reacting much more slowly to bring them down.

Average petrol prices rose by 29 pence a litre in two months to a record high of 191.53p on July 3 and diesel climbed 22p to an all-time high of 199.09p on 25 June.

The wholesale cost of petrol has fallen by 20p since early June, according to the RAC.

Yet UK retailers continued to increase their prices in June and only dropped their pump prices by an average of 9p during July, the RAC said.

This means drivers filling up at the end-July average of 183p per litre could be paying almost £9 a tank more than they should be.

Equally, the RAC said drivers should now be paying about 182p per litre for diesel — nearly £6 a tank lower than the end-July average of 192p per litre.

While these are the third and fourth biggest monthly reductions respectively in the last 20 years, the RAC said they still do not fairly reflect the fall in the wholesale price of fuel, and major retailers should be cutting pump prices much more.

Independent retailers have been quicker to respond by dropping prices, the RAC said.

But the “big four” supermarkets — Tesco, Asda, Morrisons and Sainsbury’s, along with several other suppliers — have been criticised for failing to reduce their prices in line with falling wholesale costs.

The RAC said that while several reduced their prices last week, the cuts are not enough to be in line with the wholesale cost.

RAC fuel spokesman Simon Williams said: “July has been an unnecessarily tough month for drivers due to the big four supermarkets’ unwillingness to cut their prices to a more a reasonable level, reflecting the consistent and significant reductions in the wholesale cost of petrol and diesel.

“As it was, we saw independent retailers leading the charge with fairer pump prices appearing all around the country which eventually forced the supermarkets to finally implement a more substantial cut late last Friday afternoon.

“What ought to have happened is that the biggest retailers cut their prices more significantly on a daily basis, given the wholesale price of petrol has fallen steadily over the last eight weeks.”

Mr Williams advised drivers that they should no longer assume supermarkets are the cheapest places to get fuel.

He said motorists should “shop around as it’s highly likely you’ll find an independent retailer which is doing the right thing and fairly reflecting their lower wholesale costs by charging a lower price”.

He added: “This is really encouraging because the independents buy new stock less frequently than the supermarkets as they don’t sell as much, and consequently aren’t as well positioned as their rivals to be able to snap up fuel at lower prices when there are sudden market drops.”

AA president Edmund King also criticised major retailers for failing to drop prices, branding it “unforgivable”.

He said: “Average UK pump prices are down by around 9.5p a litre for petrol and 7p for diesel compared to early July. But, since early June, wholesale petrol is down 20p-25p a litre depending on whether or not you factor in VAT.

“In many areas of Britain, a 10p-a-litre drop in pump prices is still a ‘pumpdream’. And that is where the fuel trade is forcing struggling drivers to play the pump-price postcode lottery.

“When you consider that many small independents have been slashing 10p and sometimes 15p off fuel, because lower costs have allowed it, the failure of bigger forecourts to do likewise is pretty unforgiveable.”

Mr King added: “Drivers have been taken for an expensive ride during the cost-of-living crisis at a time they can least afford it.”

A representative for Sainsbury’s said: “We are committed to offering motorists great value and over the weekend we lowered the price of petrol and diesel across our forecourts. We price locally and competitively.”

Tesco, Asda and Morrisons have been contacted for comment.

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Al Ghaf Honey

The Al Ghaf tree is a local desert tree which bears the harsh summers with drought and high temperatures. From the rich flowers, bees that pollinate this tree can produce delicious red colour honey in June and July each year

Sidr Honey

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MATCH INFO

Uefa Champions League final:

Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports

Abu Dhabi GP weekend schedule

Friday

First practice, 1pm 
Second practice, 5pm

Saturday

Final practice, 2pm
Qualifying, 5pm

Sunday

Etihad Airways Abu Dhabi Grand Prix (55 laps), 5.10pm

Donating your hair

    •    Your hair should be least 30 cms long, as some of the hair is lost during manufacturing of the wigs.
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The specs

Engine: 3-litre twin-turbo V6

Power: 400hp

Torque: 475Nm

Transmission: 9-speed automatic

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On sale: Now

OIL PLEDGE

At the start of Russia's invasion, IEA member countries held 1.5 billion barrels in public reserves and about 575 million barrels under obligations with industry, according to the agency's website. The two collective actions of the IEA this year of 62.7 million barrels, which was agreed on March 1, and this week's 120 million barrels amount to 9 per cent of total emergency reserves, it added.

What the law says

Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.

“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.

“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”

If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.

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Director: Laila Abbas

Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum

Rating: 4/5

'My Son'

Director: Christian Carion

Starring: James McAvoy, Claire Foy, Tom Cullen, Gary Lewis

Rating: 2/5

Your Guide to the Home
  • Level 1 has a valet service if you choose not to park in the basement level. This level houses all the kitchenware, including covetable brand French Bull, along with a wide array of outdoor furnishings, lamps and lighting solutions, textiles like curtains, towels, cushions and bedding, and plenty of other home accessories.
  • Level 2 features curated inspiration zones and solutions for bedrooms, living rooms and dining spaces. This is also where you’d go to customise your sofas and beds, and pick and choose from more than a dozen mattress options.
  • Level 3 features The Home’s “man cave” set-up and a display of industrial and rustic furnishings. This level also has a mother’s room, a play area for children with staff to watch over the kids, furniture for nurseries and children’s rooms, and the store’s design studio.
     
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How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
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What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less
THE BIO

Born: Mukalla, Yemen, 1979

Education: UAE University, Al Ain

Family: Married with two daughters: Asayel, 7, and Sara, 6

Favourite piece of music: Horse Dance by Naseer Shamma

Favourite book: Science and geology

Favourite place to travel to: Washington DC

Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.

It’ll be summer in the city as car show tries to move with the times

If 2008 was the year that rocked Detroit, 2019 will be when Motor City gives its annual car extravaganza a revamp that aims to move with the times.

A major change is that this week's North American International Auto Show will be the last to be held in January, after which the event will switch to June.

The new date, organisers said, will allow exhibitors to move vehicles and activities outside the Cobo Center's halls and into other city venues, unencumbered by cold January weather, exemplified this week by snow and ice.

In a market in which trends can easily be outpaced beyond one event, the need to do so was probably exacerbated by the decision of Germany's big three carmakers – BMW, Mercedes-Benz and Audi – to skip the auto show this year.

The show has long allowed car enthusiasts to sit behind the wheel of the latest models at the start of the calendar year but a more fluid car market in an online world has made sales less seasonal.

Similarly, everyday technology seems to be catching up on those whose job it is to get behind microphones and try and tempt the visiting public into making a purchase.

Although sparkly announcers clasp iPads and outline the technical gadgetry hidden beneath bonnets, people's obsession with their own smartphones often appeared to offer a more tempting distraction.

“It's maddening,” said one such worker at Nissan's stand.

The absence of some pizzazz, as well as top marques, was also noted by patrons.

“It looks like there are a few less cars this year,” one annual attendee said of this year's exhibitors.

“I can't help but think it's easier to stay at home than to brave the snow and come here.”

RACE CARD

6.30pm Maiden Dh165,000 (Dirt) 1,200

7.05pm Handicap Dh165,000 (D) 1,600m

7.40pm Maiden Dh165,000 (D) 1,600m

8.15pm Handicap Dh190,000 (D) 1,600m

8.50pm Handicap Dh175,000 (D) 1,400m

9.25pm Handicap Dh175,000 (D) 2,000m

 

The National selections:

6.30pm Underwriter

7.05pm Rayig

7.40pm Torno Subito

8.15pm Talento Puma

8.50pm Etisalat

9.25pm Gundogdu

Skoda Superb Specs

Engine: 2-litre TSI petrol

Power: 190hp

Torque: 320Nm

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UAE Team Emirates

Valerio Conti (ITA)
Alessandro Covi (ITA)
Joe Dombrowski (USA)
Davide Formolo (ITA)
Fernando Gaviria (COL)
Sebastian Molano (COL)
Maximiliano Richeze (ARG)
Diego Ulissi (ITAS)

SPECS
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The specs
Engine: 2.0-litre 4-cyl turbo

Power: 201hp at 5,200rpm

Torque: 320Nm at 1,750-4,000rpm

Transmission: 6-speed auto

Fuel consumption: 8.7L/100km

Price: Dh133,900

On sale: now 

Don't get fined

The UAE FTA requires following to be kept:

  • Records of all supplies and imports of goods and services
  • All tax invoices and tax credit notes
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  • All tax invoices and tax credit notes
  • Alternative documents issued
  • Records of goods and services that have been disposed of or used for matters not related to business
Company%20profile
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The results of the first round are as follows:

Qais Saied (Independent): 18.4 per cent

Nabil Karoui (Qalb Tounes): 15.58 per cent

Abdelfattah Mourou (Ennahdha party): 12.88 per cent

Abdelkarim Zbidi (two-time defence minister backed by Nidaa Tounes party): 10.7 per cent

Youssef Chahed (former prime minister, leader of Long Live Tunisia): 7.3 per cent

Key findings of Jenkins report
  • Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
  • Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
  • Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
  • Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
UAE currency: the story behind the money in your pockets
Company%20profile
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Cultural fiesta

What: The Al Burda Festival
When: November 14 (from 10am)
Where: Warehouse421,  Abu Dhabi
The Al Burda Festival is a celebration of Islamic art and culture, featuring talks, performances and exhibitions. Organised by the Ministry of Culture and Knowledge Development, this one-day event opens with a session on the future of Islamic art. With this in mind, it is followed by a number of workshops and “masterclass” sessions in everything from calligraphy and typography to geometry and the origins of Islamic design. There will also be discussions on subjects including ‘Who is the Audience for Islamic Art?’ and ‘New Markets for Islamic Design.’ A live performance from Kuwaiti guitarist Yousif Yaseen should be one of the highlights of the day. 

Duterte Harry: Fire and Fury in the Philippines
Jonathan Miller, Scribe Publications

Updated: August 03, 2022, 11:39 AM