After weeks of continuous increases, UK petrol and diesel prices have finally begun to decline. This shift comes as wholesale market costs drop below recent highs. Currently, filling a car with diesel is approximately £26 more expensive than in late February, while petrol prices are nearly £14 higher.
Recent Price Trends of Fuel in the UK
According to the RAC, ongoing observations suggest that further decreases in fuel prices might be possible. Simon Williams, the head of policy at the RAC, expressed optimism about imminent reductions, predicting several pence off the price per litre soon. He noted that drivers are likely to feel relief as fuel prices finally trend downward after record rises.
Current Average Prices
The recent six-week surge saw diesel prices climb from 142p per litre to nearly 192p, while petrol saw a rise from 133p to over 158p. However, these current prices still fall short of the peaks experienced in the summer of 2022, following geopolitical tensions stemming from Russia’s invasion of Ukraine.
| Fuel Type | Current Average Price (pence per litre) | Price Increase from Late February (pounds) |
|---|---|---|
| Diesel | 192 | £26 |
| Petrol | 158 | £14 |
In the summer of 2022, petrol prices reached a staggering 191.5p per litre, while diesel hit 199p per litre. Currently, despite recent increases, the prices remain below those historical highs.
