The Real Reason Why UK Gasoline Prices Remain Skyhigh Despite Recent Drop

The price of petrol and diesel in the UK fell between June and October 2024 but the margin retailers are making from each visit to the pump has surged. According to new figures from the Competition and Markets Authority (CMA) fuel prices decreased in the period because, in part, of the changing crude oil prices and refining spreads, both of which are driven by global factors. The watchdog said that average petrol and diesel prices at the end of October were 134.4 and 139.7 pence per litre (ppl) respectively. This is a decrease of 10.0 ppl and 10.4…