Latest market update from RACT's Darren Moody
The wholesale price of fuel has dropped in recent weeks, down about 7cpl over the last two weeks, however we haven’t really seen any relief at the pump for motorists.
At present it appears the average margin for ULP is between 11 and 14cpl depending on where you live and buy your fuel, which is in our view too high.
Of more concern is the price of diesel. Currently the wholesale price of diesel is 7.6cpl lower than ULP, but at best the pump price is the same as ULP. This means that some outlets are getting a margin in excess of 20cpl, which is pure price gouging in our opinion.