![shell station near me now shell station near me now](https://gasstations-nearme.com/wp-content/uploads/2017/09/Gas-station-open-24-hours-near-me-1024x682.jpg)
Retailers who use greater volumes tend to buy more frequently and are therefore tend to alter their prices more quickly. The other factor which affects when forecourt prices are changed is how frequently retailers buy their fuel. In reality though the retail fuel market tends to be led by the supermarkets, as despite only having around 16% of UK forecourts they are responsible for some 44% of total fuel sales, so we often see widespread cuts being passed on at the pumps at the same time. Retailers can reflect these savings as often or as infrequently as they like. Pump prices change when there are significant and sustained increases or reductions in the wholesale price of petrol or diesel. But at £1 a litre it rises to 75%, meaning 75p in every litre sold goes to for the Treasury.įuel duty raises more than £26bn a year, which together with VAT charged on fuel, vehicle tax and ‘showroom’ tax totals, means motorists contribute more than £40bn a year to the Government’s coffers. For instance, with fuel at 120p a litre at the pumps, 65% of the cost is tax. The total retail price paid at the pump includes a significant amount of tax – currently 52.95p per litre in fuel duty and 20% VAT.īut the total proportion of tax we pay to the Treasury varies depending on the pump price. But there are other variables that affect what we pay when we fill up, including the strength of Sterling compared to the US dollar (since oil is traded in dollars) and retailers' willingness to pass on wholesale savings they make to drivers. Generally speaking, higher oil prices lead to higher petrol and diesel prices at UK forecourts - and in theory at least, lower oil prices should lead to cheaper pump prices. Here is a chart that shows how the oil price has changed over the years. The Government also makes more in VAT when fuel prices are higher. And, when the price of oil is falling it can also create a perception that pump prices are not reducing as much as they should because the lower the pump prices falls, the greater the percentage of tax. This high level of tax affects the price of a litre of fuel significantly. There is a limit to how low UK fuel prices can go as tax – fuel duty, plus VAT charged on the total price – make up the lion’s share of the price of a litre. Even if the fuel was given away and the retailers didn’t make any profit (take a margin), the price of a litre would still include duty and VAT.
#Shell station near me now drivers#
At these prices, tax to the UK Government represented around 43-44% of the total price that drivers were paying. What are the highest ever recorded UK petrol and diesel prices?Īverage UK petrol and diesel prices were hitting regular daily records as of June 2022 - of around 191p per litre of petrol and 199p per litre of diesel. Just remember to pay off your account within the month or your savings will be cancelled out While it might not actually save you money at the pumps, it will offset higher petrol or diesel prices by putting something back in your account. Consider credit card cashback. Some credit card companies offer cashback for spending money at filling stations.And look beyond the supermarkets - some independent retailers can be cost-competitive too. Even taking a small detour to visit a cheaper forecourt can save you a few pence per litre, and over 12 months’ motoring that could lead to a sizeable saving Get to know the cheapest filling stations where you live. Drive efficiently. This is the best way to save money on fuel, and you can read our guide to saving fuel for more tips.Always aim to pay no more than this average price when you fill up This is displayed at the top of this page.
![shell station near me now shell station near me now](https://townsquare.media/site/692/files/2020/06/Treehouse8.jpg)