UK petrol and diesel prices falling at fastest rate this year
September 25th, 2024
UK petrol and diesel prices are dropping at the fastest rate seen this year, with households saving around £4 on filling up a family car compared to a month ago. According to the RAC, the average price of unleaded petrol is now just above 136.15p per litre, down from 142.86p last month. Diesel prices have also fallen to nearly 141p, compared to just under 148p.
This marks the biggest drop in fuel prices since December, and further decreases are expected. With predictions that petrol could fall to 132p and diesel to 138p in the coming weeks.
The RAC’s lead spokesperson on fuel, Simon Williams, said: “It’s really encouraging to see pump prices coming down so rapidly, which we know is as good for drivers’ wallets as it is for keeping the headline level of inflation in check.”
“Of course, global oil prices and even the strength of the pound can fluctuate wildly, and that’s something completely out of drivers’ control. But with the cost of filling up making up a sizeable chunk of many households’ overall monthly spending. It makes sense to stretch every pound spent on fuel as far as possible.”
The price fall is a reversal from April, when petrol peaked at 150.1p and diesel at 158.3p. However, the RAC warns drivers may face a fuel duty rise as part of next month’s budget, potentially reversing some of the recent savings.