Petrol prices Edinburgh: Only one filling station in the Capital is selling fuel for 'fair price' according to the RAC

Only one forecourt in Edinburgh is selling petrol for a fair price, according to the RAC.

While wholesale fuel costs have fallen substantially over the last six weeks, the RAC claims that only a small number of retailers have cut their prices to accurately reflect this.

The motoring organisation has urged petrol stations to “do the right thing” and help drivers struggling with the cost of living crisis.

The RAC has estimated a “fair” price for petrol, which is 174p per litre, while diesel should be around 189p per litre. That factors in the wholesale cost to retailers, a 7p per litre margin and VAT.

However, only one forecourt in Edinburgh is selling petrol for this price.

As of July 27, Costco Loanhead is selling Unleaded for 171.9p. While this seems like a good deal, a Costco membership is required to buy fuel at this filling station.

The next cheapest place to buy fuel in the Capital is Asda Straiton, where a litre of Unleaded will cost 181.7p – 7p dearer than the RAC’s “fair” price.

Wholesale fuel costs have fallen substantially over the last six weeks, but most retailers are not cutting their prices.

On average in the UK, a litre of petrol currently costs around 185p per litre, while diesel is close to 194p, according to analysts Experian Catalist.

Costo Loanhead is also the most inexpensive option for diesel in Edinburgh, at 182.p per litre. There’s a big jump to the next cheapest forecourt, which is Asda Chesser, where a litre of diesel costs 192.7p.

A recent RAC survey, which sampled more than 4,500 UK forecourts, found that only 157 petrol stations are selling a litre of petrol at between 170.9p and 179.9p, while 250 are retailing diesel at a price of between 180p and 189.9p.

The other 90 per cent are charging more than 180p for petrol, and almost 1,000 are charging in excess of 190p for unleaded.

Traditionally, supermarkets have had the cheapest pump prices, however, the RAC survey found that independently owned sites are currently leading the way with low prices.

Of the 157 forecourts selling Unleaded at less than 180p, 125 are independents, 28 are major supermarket sites, and four are owned by oil companies. Similarly, 192 of those selling diesel at less than 190p are independently owned, with just 43 being run by major supermarkets and 15 being owned by oil companies.

RAC fuel spokesman Simon Williams said: “In this most expensive of summers, drivers need all the help they can get to keep their spending down so we applaud those retailers who are doing the right thing for their customers and charging a fair price for petrol and diesel, more in line with the lower wholesale costs.

“Weekly wholesale petrol prices – that’s the price retailers pay to buy the fuel – have fallen by a massive 17p a litre, from a weekly average of around 152p at the start of June to just 135p. Yet average pump prices have reduced by a paltry 4p. It’s time for every retailer to do the right thing and cut their prices to more reasonable levels.”

Earlier this month, the AA estimated that petrol prices could fall by 20p per litre within 2 weeks, if retailers continued to pass on reductions in the wholesale cost of fuel. However, spokesperson Luke Bosdet said: “In many places, the price cuts are quite simply not happening [..].”