According to the Office of National Statistics, UK average pump prices for diesel fuel for week commencing 20th March 2017 were £1.218ppl – nearly a 1ppl reduction on the previous week!

However, compared with a year ago, this is still 18.20ppl (17.56%) higher than the same period last year. Moreover, the wholesale price of diesel measured at the Rotterdam exchange increased by only 10.10ppl (12.44%) in the same period.

A similar picture can be found for unleaded petrol.

The figures no doubt show what many people already believe, in that the fuel retailers (whether supermarkets or main brands) are making higher margins from road users despite smoke and mirror claims about instituting price wars. Indeed, the above figures represent a staggering 41% increase in the effective margin being charged above the wholesale price!

Additionally, business users are feeling the effects of increased costs in fuelcard provision – annual card charges, inactive card charges, network service fees, convenience fees (reportedly up to 5ppl), etc. are just some of the enhanced or “innovative” charges used to increase the cost of card provision.

An Expense Reduction Analysts fuel review creates transparency on pricing, removing the smoke and mirrors of fuel pricing, and offers cost saving alternatives for your fuelcard provision.

Don’t let fuel pricing overtake your business!

For more information please contact us.

Article by: Duncan Rogers