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Petrol prices stoop to lowest since pandemic in run-up to Christmas

Published 04/12/2024, 10:01
Updated 04/12/2024, 10:10
© Reuters Petrol prices stoop to lowest since pandemic in run-up to Christmas

Proactive Investors - Prices across Britain’s forecourts have hit their lowest since in three years in the run up to Christmas, figures showed on Wednesday.

According to the RAC, average petrol prices last month were 10.5p cheaper than a year ago at 136.5p a litre, while diesel was down 12p at 142.25p in the meantime.

Fuel prices had stooped to their lowest since the lockdowns of the Covid-19 pandemic as a result, the RAC noted.

“Heading up to the most expensive time of year for families, it’s good to see that this Christmas is set to be the cheapest for fuel since the pandemic,” RAC policy head Simon Williams commented.

“This is great news for people making long festive journeys to visit friends and families as it should save them around £6 on a tank of fuel compared to last year.”

However, prices were up month on month, with petrol and diesel having risen by a pence and two pence respectively per litre between October and November.

The RAC also echoed warnings from Britain’s competition watchdog, made last week, that consumer were paying more than they should due to retailer’s “stubbornly high” margins.

“While conditions are clearly better for drivers this Christmas than previous ones, we’re still conscious that prices at the pumps could be slightly cheaper,” Williams added.

Read more on Proactive Investors UK

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