Retailer cuts its petrol by 8p a litre to 147.7p

26.11.2022 - 08:29 / dailyrecord.co.uk

Costco has slashed its unleaded petrol prices by 8p a litre to 147.7p - 12p less than the average -as wholesale costs steadily fall.

Their diesel prices are currently sitting at an average of 171.6p which is nearly 14.5p less than the UK average. The retailer has 19 forecourts across the UK, with stations in both Glasgow and Edinburgh.

The RAC have said that these price cuts are a clear demonstration on how overpriced fuel is elsewhere. However, with Costco being a membership-only retailer, not everyone has access to these low fuel prices.

RAC fuel spokesman Simon Williams said: "Drivers who aren’t fortunate enough to be members of Costco will no doubt be horrified to see just how cheaply fuel can be sold. It’s no wonder you often see long queues for fuel at Costco. In fact, they recently had to change the queuing system at their Bristol forecourt to cope with the number of people wanting to fill up.

"The fact petrol and diesel can be sold for 12p per litre less than is currently being charged on average at the big four supermarkets is very concerning. Even accepting Costco operates on pretty thin margins the supermarkets should be slashing their prices.

"On Tuesday this week we called on them to cut by 5p a litre but since then wholesale costs have fallen even further, so they should really be cutting by at least 7p."

Earlier in the week the motoring experts urged the big four supermarkets - Tesco, Sainsbury's, Asda and Morrisons - to drop their fuel prices by 5p "immediately".

On this matter Mr Williams said: "With many people struggling to put fuel in their cars it’s very sad to see the biggest fuel retailers taking advantage of their customers by charging far higher prices than they should be."

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