Fuel prices moving “steadily down” in response to lower oil prices – RAC

The average price of diesel has come down more than 3p (3.3p) in the last week to 177.89p a litre.

It has now fallen almost 14p (13.65p) since its Iran War peak of 191.54p on 15th April, which equates to £7.50 a tank.

Simon Williams, head of policy at RAC, said: “Drivers will be relieved to see prices at the pumps now moving steadily down in response to a much lower oil price.

“We expect unleaded to fall another few pence a litre from its current average of just over 156p in the next week or so.

“Diesel’s downward trajectory is far faster having dropped more than 3p in the last week and nearly 14p since its conflict peak of 191.54p at the end of May.”

RAC projected that the price of diesel should continue to fall below 170p per litre, based on its analysis of the wholesale market.

The average price of petrol has reduced nearly 2p (1.7p) in the last week to 156.37p, which means it has now dropped more than 3p (3.16p) – or nearly £2 a tank – since it reached a conflict high of 159.53p on 28th May.