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FairfuelUK claims filling up at the pumps should be 2p per litre cheaper

Prime Minister Theresa May is being urged to launch a probe into the “murky world” of petrol pricing amid claims fuel giants are failing to pass on £6bn worth of savings to motorists.

Tesco, Sainsbury’s, Asda and Morrisons all cut fuel by 2p a litre last weekend, following a fall in global oil price over the past two weeks from $55 to $50 a barrel.

It was the second set of price reductions at supermarket filling stations this month.

But despite the pump price cuts, FairFuelUK said fuel should be 2p per litre cheaper than it is.

Last Thursday, fuel prices were 15p a litre higher than this time last year, with diesel 17p more expensive. Wholesale prices for petrol and diesel rose by 8p and 10p respectively.

FairFuelUK said it equated to a difference of at least £6bn at forecourts in the past 12 months.

“The government’s pledge to cap household energy bills is welcome, but hard-working families are being ripped off every time they fill up their vehicles,” said FairFuelUK founder Howard Cox.

“We urge Theresa May to look into the murky world of pump pricing as it has escaped real scrutiny for far too long.”

Charlie Elphicke, chairman of FairFuel APPG, is calling for the creation of a powerful watchdog to help drivers get a fairer deal.

“This is strong evidence that drivers are being ripped off by greedy big oil companies,” the Dover & Deal MP said.

“Pump prices fall like a feather but jump like a rocket when the oil price changes. A powerful PumpWatch watchdog would help millions of drivers get a fairer deal.”