Petrol Prices Show Wild Variations Across Filling Stations - Why?
It seems odd that we can easily find out what prices of everyday items are when we shop at a supermarket or store, but the price of petrol - one of our most frequently used products - is so hard to pinpoint where it's bought and sold. With multiple petrol stations on an identical road showing vastly different prices for the same product, locals can't help but wonder why their fuel costs differ significantly.
On the same stretch of road in Sussex, a 5p-litre difference in price was noticed between Sainsbury's and Tesco filling stations. The AA has reported that prices vary not only from one station to another within the same town but also from different towns altogether. Even on the same day, the petrol retailers are competing with each other by charging lower rates in some places than others.
According to Luke Bosdet of the AA, two main problems fuel this price disparity: pump-price postcode lottery and difficulty in locating bargain-priced fuel. This means even though the petrol itself is identical - from the same refinery - prices can be vastly different depending on where you live or drive.
Petrol retailers purchase raw materials at a wholesale rate that makes up only 23% of their overall costs, influenced by "oil price and exchange rates", says Simon Williams, head of policy at the RAC. For fuel to hit the pump, the pound needs to be strong against the dollar so that prices for petrol can be kept low enough for consumers.
However, despite owning centrally, some retailers - like Sainsbury's - don't compete aggressively with other brands on petrol pricing, resulting in consumers losing out. The Competition and Markets Authority (CMA) has taken notice of this issue and plans to monitor it closely, eventually recommending action if there is a weakening of competition.
The CMA aims to establish a government-run price comparison tool that will enable drivers to see exactly how much filling stations are charging, which is set to launch later in the year. Dan Turnbull, senior director at the CMA, notes, "if competition between businesses was stronger, we could see lower prices for fuel."
As consumers struggle to find out where they can get their petrol cheaper and make informed decisions about how much they spend on it, there are several price comparison tools already available that provide real-time data on what's on offer at different filling stations.
It seems odd that we can easily find out what prices of everyday items are when we shop at a supermarket or store, but the price of petrol - one of our most frequently used products - is so hard to pinpoint where it's bought and sold. With multiple petrol stations on an identical road showing vastly different prices for the same product, locals can't help but wonder why their fuel costs differ significantly.
On the same stretch of road in Sussex, a 5p-litre difference in price was noticed between Sainsbury's and Tesco filling stations. The AA has reported that prices vary not only from one station to another within the same town but also from different towns altogether. Even on the same day, the petrol retailers are competing with each other by charging lower rates in some places than others.
According to Luke Bosdet of the AA, two main problems fuel this price disparity: pump-price postcode lottery and difficulty in locating bargain-priced fuel. This means even though the petrol itself is identical - from the same refinery - prices can be vastly different depending on where you live or drive.
Petrol retailers purchase raw materials at a wholesale rate that makes up only 23% of their overall costs, influenced by "oil price and exchange rates", says Simon Williams, head of policy at the RAC. For fuel to hit the pump, the pound needs to be strong against the dollar so that prices for petrol can be kept low enough for consumers.
However, despite owning centrally, some retailers - like Sainsbury's - don't compete aggressively with other brands on petrol pricing, resulting in consumers losing out. The Competition and Markets Authority (CMA) has taken notice of this issue and plans to monitor it closely, eventually recommending action if there is a weakening of competition.
The CMA aims to establish a government-run price comparison tool that will enable drivers to see exactly how much filling stations are charging, which is set to launch later in the year. Dan Turnbull, senior director at the CMA, notes, "if competition between businesses was stronger, we could see lower prices for fuel."
As consumers struggle to find out where they can get their petrol cheaper and make informed decisions about how much they spend on it, there are several price comparison tools already available that provide real-time data on what's on offer at different filling stations.
the petrol price thing is soooo weird 
i mean we know exactly where our fave supermarkets get their stuff from but petrol 
is like a wild card right? 
i went to filling station in sussex last year and they were charging like 20p/litre more than the one next door 
that's insane! 
gotta love how the cma is on it tho 
hoping those price comparison tools become a thing soon so we can all just chill about getting ripped off 
Anyway, it's kinda wild that we can easily find out the prices of everyday items online but not petrol... maybe they should just put a big sign on every station saying "Hey, our fuel is 50p more expensive than the one next door"? 
. Like back in my day, we could just fill up at the nearest station and not think twice about it. But now, it seems like everyone's got their own prices 
. But I guess when you've got a bunch of companies competing for the same customers, prices get all over the place 
.
. And now they're talking about setting up this fancy price comparison tool? That sounds like a good idea, but I bet some retailers are gonna be all mad about it 
.
. In the meantime, I'm just gonna stick to filling up at the same old station and not bother with all the price comparisons 
.
. But petrol? Noooo... gotta scour the internet or try to find out which station is selling the cheapest fuel in your area. And don't even get me started on how some stations seem to be playing a game of price tag roulette 
! It's like they're just guessing what prices will sell well.
. But seriously, can't we just have a simple price comparison chart or something? It'd be a lot less stressful for us drivers 
.
, but i wish they'd just make it easier for us to compare prices in the first place 
. We need some kind of price comparison tool that'll give us an idea of what we're getting and where to get the best deal 
. It's time to shake things up and make it easier for drivers like me to find affordable petrol 
. it's good they're planning a price comparison tool so drivers can see what's going on at different stations 
. The AA is saying that it's mainly because of this "pump-price postcode lottery" thing where the price depends on where you live or drive 
. But what I don't get is why the retailers can't just be more transparent about their prices and let consumers make informed decisions for themselves? It's like they're playing a game of price-tag roulette, hoping that we won't notice the difference 
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. Why did the price change? Is it because the trainer brand changed or something? And what's with all these petrol prices, it's like they're speaking a different language... can someone explain why petrol is so hard to compare prices on? I mean, I know supermarkets have those price comparison charts, but when are we going to see that for petrol? 
. Can't we just have a simple way to compare prices without having to Google it every time?! 
. It's just frustrating when we're stuck in this limbo where we don't know what we can get for our money...