Petrol and diesel drivers secure huge victory as fuel stations introduce 'widespread price reductions'

Diesel prices have dropped by record levels as drivers start to see "widespread price reductions" amid plummeting oil prices as the situation in the Middle East stabilises.

New data from RAC Fuel Watch shows that the average price of diesel fell by almost 17p per litre in June, marking the biggest monthly drop since 2000.

At the start of June, diesel averaged at 183.75p per litre, but had plummeted to 167.14 by the end of the month, an impressive reduction of 16.6p.

This was the largest monthly drop by almost 5p, when prices fell by around 12p in May 2023 after oil costs dropped in the aftermath of the Russian invasion of Ukraine.

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Petrol drivers also experienced relief at the pumps, as average prices fell by 7.97p from just under 160p a litre to 151.4p.

On average, drivers with a standard 55-litre family car are saving £4.40 per tank for petrol and £9 for diesel.

During the peak of the Iranian fuel crisis, diesel vehicle owners were routinely paying more than £100 for a full tank as prices exceeded £1.90 for the first time in several years.

Simon Williams, head of policy at the RAC, acknowledged that falling prices will be warmly welcomed by drivers across the country, although costs are still much higher than at the start of the Middle East conflict.

He added: "Fortunately, the oil price is now in the low-$70s (£52.53) range, which is only $10 (£7.50) above the average of the first two months of the year.

"At the time the conflict began, drivers had average prices of 132p for unleaded and 142p for diesel, so we're still some way off those levels.

"As things stand, petrol should dip under 150p soon and diesel ought to get to below 160p, but we would need the price of oil to fall further to see a return to the pre-conflict prices."

Supermarkets also cut prices over the last month, with the "Big Four" retailers maintaining lower costs than most, as costs fell by 19p for diesel and 7.15p for unleaded.

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RAC data shows that the lowest priced petrol in England is being sold at GW Holmes of Etherley Moor Garage in Bishop Auckland at just 139.7p.

Three locations - Linthouse Lane Service Station in Wolverhampton, and two Sainsbury's sites in the city - have the least expensive diesel, charging just 152.9p.

Northern Ireland continues to have far cheaper fuel costs compared to the rest of the UK, with petrol and diesel standing at 147.5p and 162.6p, respectively.

Mr Williams concluded, saying: "We hope the transparency the Government's Fuel Finder scheme brings with retailers obligated to report their prices within half an hour of changing has helped with June's price reductions."

Most expensive petrol prices

Asda Bothwell Express Petrol, Bothwell, South Lanarkshire (G71 8BG) - 181.9p

Asda Strensham Express Petrol, Worcester, Worcestershire (WR8 0BZ) - 180.9p

Asda Tamworth Express Petrol, Tamworth, Staffordshire (B77 5PS) - 179.9p

Asda Stafford South Express Petrol, Stone, Staffordshire (ST15 0XE) - 179.9p

Asda Hamilton Express Petrol, Hamilton, South Lanarkshire (ML3 6JW) - 179.9p

Most expensive diesel prices

Island Carriers, St Mary's, Isles of Scilly (TR21 0JY) - 198p

Asda Bothwell Express Petrol, Bothwell, South Lanarkshire (G71 8BG) - 195.9p

Asda Hamilton Express Petrol, Hamilton, South Lanarkshire (ML3 6JW) - 194.9p

Asda Cherwell Valley Express Petrol, Bicester, Oxfordshire (OX27 7RD) - 194.9p

Asda Pont Abraham Express Petrol, Llanedi, Carmarthenshire (SA4 0FU) - 194.9p

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