Cloisters Gulf Petrol Station in Chelsea, west London has been selling petrol at close to 70p more per liter than the national average, despite Chancellor Rishi Sunak cutting fuel duty
Image: TIM ANDERSON)
A pumping station that flogged fuel for double the national price during the petrol shortage still has sky high prices following the fuel duty cut.
Cloisters Gulf Petrol Station in Chelsea, west London made heads in October when it sold out of unleaded petrol – despite selling it for £2.68 a litre.
At that point it was double the national average price.
Five months on the upmarket fuel dispensary has started shifting the liquid fuel for £2.34, 16p more than its price three weeks ago.
The sky high price tag puts it in the running for the most expensive petrol in the UK.
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The significant cost of fueling up at Cloisters was clocked the day after Rishi Sunak attempted to address the increasingly unaffordable nature of filling up a car.
The Chancellor announced a 5p cut in fuel duty, effective as of yesterday evening.
After the announcement Asda, Tesco, Sainsbury’s and Morrisons announced that they would be lowering the cost of their petrol.
UK motorists are now being forced to pay an average of £1.67 a liter for unleaded and £1.79 a liter for diesel.
That means Cloisters is selling petrol for 67p more than the typical petrol station.
Yesterday RAC head of policy Nicholas Lyes warned that the Chancellor’s decision to cut fuel duty would only help consumers if retailers passed on the savings.
“There’s also a very real risk retailers could just absorb some or all of the duty cut themselves by not lowering their prices,” he said.
“If this proves to be the case it will be dire for drivers. It also wouldn’t be totally unexpected based on the biggest retailers not reducing their prices late last year when the oil price fell sharply.”
Changes in prices at the pump are linked to the price of crude oil and the dollar exchange rate.
Brent crude was trading down 0.42% on the day at $115.10 per barrel on the day – also up $15 per barrel on the week.
Fuel prices first started rising due to high global demand as the UK began to come out of the coronavirus crisis.
But the war in Ukraine has pushed up prices even higher, largely down to sanctions of the imports of Russian-sourced oil.