Currently reading: UK fuel prices fall for the first time since March
Pump prices of petrol and diesel drop by up to two pence a litre as crude oil values fall

The price of petrol and diesel at UK forecourts has fallen for the first time in four months thanks to a decrease in the value of crude oil.

Pump prices had been steadily increasing since March, but figures from the RAC show the average price of petrol has fallen by 0.41 pence to 111.79 pence. Diesel prices fell by a smaller margin, with the average cost per litre now 112.41 pence – 0.06 pence lower than the previous month.

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The RAC said supermarket forecourts have offered customers the biggest savings, with as much as two pence per litre lopped off prices in some cases. In terms of regions, motorists in the East Midlands have seen the biggest savings, with petrol prices 1.53 pence down on the previous month and diesel prices 0.95 pence lower.

The pump price decreases are the result of a drop in the value of crude oil, of which barrel prices fell from £36.16 to £31.31 on 29 July.

The RAC said the decrease will help families save money over the summer holidays but added that lower pump prices should have happened sooner because oil prices had fallen before the end of last month. “It came more than a week later than it should have done,” said RAC fuel spokesman Simon Williams.

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Williams said the falling price of fuel on the wholesale market was being driven by fears of slowing global economic growth, adding to an existing oversupply of both crude oil and refined products such as petrol and diesel. “This has happened at a time when there are oil supply disruptions in Nigeria and Libya, which, had they not occurred, would have meant there was even more oil on the world market,” he said.

Today’s petrol prices are close to five pence per litre cheaper than they were one year ago. Diesel prices are three pence per litre lower than in 2015.

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Peter Cavellini 4 August 2016

lower.......?

Currently paying 109.00ppl!,three four month ago it was 0.99ppl,bit like utility prices just now over inflated,customer not getting a good deal,even if you shop/drive around!
xxxx 3 August 2016

SMMT

Hold on a minute this can't be right as it only seemed like yesterday we were told fuel prices would be going UP after the vote to leave the EU. Remain politics eh, next they be saying there'll be no war.
Citytiger 3 August 2016

xxxx wrote:

xxxx wrote:

Hold on a minute this can't be right as it only seemed like yesterday we were told fuel prices would be going UP after the vote to leave the EU. Remain politics eh, next they be saying there'll be no war.

Sory no you are wrong, it was 5 days ago that the very same RAC told us prices were increasing, but I still think there will be a war ;)

xxxx 4 August 2016

well seen

Citytiger wrote:
xxxx wrote:

Hold on a minute this can't be right as it only seemed like yesterday we were told fuel prices would be going UP after the vote to leave the EU. Remain politics eh, next they be saying there'll be no war.

Sory no you are wrong, it was 5 days ago that the very same RAC told us prices were increasing, but I still think there will be a war ;)

Oh yea it was the SMMT who told us everyone was pulling out of making cars in the UK, still you get my point about BREXIT politics and scare stories