Xmas cheer for drivers as petrol set to dip below 140p per litre

We’re already enjoying a two-year low, but further falls are expected according to RAC Fuel Watch

Drivers can’t have failed to notice the extra pennies in their pockets, but now data from RAC Fuel Watch has confirmed that UK petrol prices are at their lowest for two years.

The average price of a litre of unleaded is now 142.7p, which is a price last seen in the Autumn of 2021. It also means petrol is 10p a litre cheaper than this time last year, while there’s potentially room for more good news on pump prices if retailers continue to reflect the downward curve of wholesale prices.

• How to find the cheapest petrol and diesel near you

“Just as we head into one of the busiest times of the year on the roads, RAC data shows the average price of petrol has fallen to its lowest for more than two years,” said RAC fuel spokesman Simon Williams.

“This is good news for drivers, especially as prices should continue to come down in the run-up to Christmas due to the wholesale price being significantly lower. While the biggest retailers haven’t announced any headline-grabbing big cuts, prices are falling steadily every day which is encouraging. We just have to hope this continues in the coming days.

 “If wholesale prices are reflected more fairly at the pumps, we should see the average price of petrol drop below 140p in the next week.”

Sadly the news for diesel drivers is less encouraging, as the current price per litre of 150.29p was 6p lower in August this year. However, diesel remains a lot cheaper this Christmas than last, when drivers were coughing up 175p a litre.

Hopefully for now, the summer 2022 price peaks of 191.5p for petrol and 199.09p for diesel are a distant – if painful – memory.

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