Fuel campaigners say motorists are being "fleeced at the pumps" by "greedy oil companies and wholesalers" after the drop in oil prices has failed to be reflected in the cost on the forecourt.

FairFuelUK, which has long campaigned for lower prices for motorists, is now renewing calls on the government to introduce PumpWatch - a watchdog to monitor the fairness of petrol and diesel prices.

It comes as fuel prices continue to rise despite a huge drop in the value of crude oil over recent months.

Its founder, Howard Cox, from Cranbrook, says now is the time to act with letters sent to both Chancellor Rishi Sunak and the Competition and Markets Authority.

He said: "Everyone knows what we pay at the pumps does not follow any logic or fairness when oil prices change.

"For decades the fuel supply chain, notably a few wholesalers, have ripped off drivers at will. The smaller independent garages are subject to wholesaler blackmail too, in the prices they are forced to pay, with their suppliers holding them hostage to their bulk supply.

"They consciously hold back wholesale price falls amounting to billions. But these greedy faceless businesses will soon be subject to good deal of scrutiny.

"The complete disregard for any pricing honesty by the fuel supply chain in a time of crisis is driven by their serial greed.

"The Covid disaster has giving these faceless profiteers, the opportune cover to ruthlessly fleece drivers at will. The government must act now to install PumpWatch, a proposed independent price monitoring body long called for by drivers, FairFuelUK, Fair Fuel APPG (all-party parliamentary group), and dozens of MPs, to protect UK’s motorists, van drivers and truckers from the unchecked ingrained exploitation and to alleviate motoring costs in this time of financial meltdown.

“If gas, electricity, water and telecoms get price protection bodies, why shouldn’t motorists have one too? We need PumpWatch now, to ensure pricing fairness for both consumers and hardworking fuel retailers too. Most of the profiteering is at wholesale level not by small independent retailers, who are also victims of the greedy fuel supply chain.”

Harlow Conservative MP Robert Halfon is backing the call.

He added: "Whilst oil prices have been dropping considerably throughout the pandemic, as we stay at home, the UK's 37 million drivers are not seeing any cheaper fuel prices. Motorists are being fleeced at the pumps - overcharged as much as £10 a tank - at a time of great financial uncertainty.

"It's the hardworking motorists and their families that depend on their vehicles to earn a living, yet are being hit hardest by the greed of some oil companies and wholesalers.

"That's why FairFuelUK and I have been campaigning for PumpWatch. Together we have written to the Chancellor and the Competition and Markets Authority to put a stop to this outrageous profiteering."

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