What Is RAC Fuel Watch?
The RAC is committed to supporting UK motorists by campaigning on the issues that matter most.
Time and again we hear that the cost of motoring is the biggest cause of concern to you.
We set up RAC Fuel Watch to monitor and scrutinise the fuel market – from oil companies to retailers – with a view to bringing greater transparency for motorists who we believe deserve to see a fairer reflection of wholesale fuel prices at the pump.
Our fuel experts track the price of a barrel of crude oil, the UK wholesale price of petrol and diesel and the average price of the two fuels at the pump.
They also examine other factors which influence the fuel market such as the strength of the pound versus the dollar, global demand for oil and its bi-products and seasonal abnormalities.
RAC Fuel Watch provides a daily insight into how UK unleaded petrol and diesel prices are changing – both on the wholesale market and on the forecourt – as well as a detailed monthly analysis of how much prices have gone up or down.
It also gives a daily prediction of what pump prices will do in the next two weeks.
With over 120m litres of petrol and diesel sold each day in the UK, every penny counts.
In fact an extra penny of profit margin charged on a litre at the pumps will net fuel retailers and supermarkets an additional profit of £1.2m every day.
Source: What is RAC Fuel Watch?