Fuel prices have dropped for the first time since the beginning of the Iran conflict, as reported by the latest figures from RAC. The average price of petrol decreased to 158.1p per liter, down from 158.3p, while diesel decreased from 191.5p to 191.2p per liter.
Despite the decline, petrol remains 25p more expensive, and diesel is 49p more expensive compared to the prices at the onset of the conflict on February 28. RAC mentioned that drivers will find relief in the fact that prices have not increased further.
Simon Williams, the head of policy at RAC, stated that after 46 consecutive days of price hikes, both petrol and diesel prices have slightly decreased across the country. He expressed hope for further reductions in the coming days due to lower wholesale prices.
Following a 10-day ceasefire between Israel and Lebanon, Brent crude dropped to around $98 a barrel from over $100. The RAC Foundation estimated that the increase in pump prices during the conflict has led to an additional £1.4 billion in motorists’ fuel expenses.
The government has introduced a new “fuel finder” system requiring all UK filling stations to report price changes for petrol and diesel within 30 minutes. This data is accessible for third-party apps, websites, and car navigation systems, ensuring real-time price transparency. Retailers failing to comply may face action from the Competition and Markets Authority.
To save money on fuel, consider avoiding costly motorway service stations and planning refueling stops strategically. Regular car maintenance is also crucial for optimal fuel efficiency.