Report finds drivers are still being ripped off at the pumps despite wholesale price falls

Drivers have been overcharged for fuel by more than £1.6 billion since 2019, according to a new report from the Competition and Markets Authority (CMA).

The findings show that retailers in the UK are still not passing on savings to motorists despite a drop in wholesale prices.

The industry watchdog said fuel margins – the difference between what retailers pay for the fuel and what they sell it at – remain at historic highs.

And, supermarkets, which have traditionally offered the cheapest fuel to lure customers into spending in other areas of their business, are currently working at margins of roughly double what they were in 2019.

The CMA said it believes that a lack of competition among fuel retailers is ‘failing consumers’ and that things haven’t improved since its previous report last July.

It is using its report to call for legislation within the industry.

Best ways to find the cheapest fuel for your car

According to Hey Car research, it costs £80.18 to fill up an average family car such as a Ford Focus (55-litre fuel tank) with petrol and £83.08 with diesel.

Running a car is expensive. Drivers spend around 2.5% of their monthly income keeping their car or van on the road.

And despite fuel prices being high across the board, there are still some savings to be made if you know where to look.

Here are our top tips to find money-saving deals on fuel.

Use comparison sites

One of the easiest ways to find the cheapest fuel is using price comparison websites. There are lots of different ones to choose from including PetrolPrices, carwow.co.uk and Confused.com. The RAC also has a fuel tracker showing live-time price drops. All you need to do is enter your location and you’ll be given a list of the most budget-friendly fuel stations in your area.

Be a savvy shopper

The time of day and day of the week you fill up can make a difference in how much you pay. Keep an eye out for midweek discounts and avoid filling up on weekends when demand is higher. Additionally, don't be afraid to shop around – prices can vary significantly between different stations, even in the same town.

Use loyalty schemes to make savings

Many fuel retailers have loyalty schemes that reward regular customers with discounts or points that can be redeemed on future purchases. According to The Financial Wilderness, some of the best include Shell Go+ Rewards, which offers fuel rewards after 10 visits and discounts on food and drinks. Texaco Star Rewards where you earn 1 point per litre of fuel bought, effectively giving you a 1p per litre discount. And there’s also the BPMe, Tesco Fuel Clubcard and Esso Nectar Rewards .

Check out apps

In the digital age, there's an app for everything, and that includes finding cheap fuel. Download a fuel-tracking app and it’ll do the hard work for you by notifying you of the best deals in your area.