At last, some good news for drivers! Diesel cost falls by a record 12p as prices plummet at Britain’s pumps
- Price drop has lowered the cost of filling typical family car by around £6.50
Diesel prices fell by a record of nearly 12p per litre last month, figures show.
The RAC said the average price of the fuel at UK forecourts dropped from 158.9p to 147.0p in May.
Despite this being the largest monthly reduction since the motoring company began tracking fuel prices in 2000, it believes the cut should have been more significant to fully reflect changes in the wholesale market.
The price drop has lowered the cost of filling a typical 55-litre family car by around £6.50.
May was the seventh consecutive month in which pump prices fell. The average price of a litre of petrol dropped by more than 3p from 146.5p to 143.3p last month.
The RAC said the average price of the fuel at UK forecourts dropped from 158.9p to 147.0p in May
On May 15, the Competition and Markets Authority watchdog reported that indications show higher pump prices in 2022 ‘appear in part to reflect some weakening of competition’.
RAC fuel spokesman Simon Williams said: ‘A 12p reduction in the price of diesel in one month is something we haven’t seen in nearly 23 years of monitoring prices.’
But prices in Scotland are still 6.64p higher than in Northern Ireland, where the Consumer Council publishes cheapest and average fuel prices in every town.
Mr Williams said: ‘We’re sure retailers in Northern Ireland are still making money – they’ve just done the right thing for their customers by moving prices down as wholesale costs have fallen.
‘The fact supermarkets have less of a stranglehold on fuel retailing there may have something to do with it.’
Diesel prices plummeted at their fastest ever rate in Scotland last month in a much-needed boost for motorists.
The cost fell by a record 11.45p in May, saving around £6.18 per tank for a typical 55litre car.
The average price of diesel was 145.13p at the end of the month, according to figures from the RAC.
The price drop has lowered the cost of filling a typical 55-litre family car by around £6.50
Petrol prices also fell, though less dramatically by 2.62p per litre, to an average of 143.12p.
AA fuel price spokesman Luke Bosdet added: ‘There is nothing stopping Scotland replicating the NI Fuel Price Checker. I suspect, though, that the government in Scotland is more interested in trying to relieve drivers of their cash, through workplace parking levies and city penalty charges, than helping them in a cost of living crisis.’
A Scottish Government spokesman said: ‘Tools to help consumers find the cheapest fuel prices are readily available online. We expect petrol stations to charge all consumers a fair price and advertise these in a transparent and easily understood way.
‘The Scottish Government has raised inconsistent pricing between urban and rural areas with the CMA as a key issue for the investigation they are conducting.’