Fuel prices fall for second month in a row, despite “raw deal” for GB motorists
Despite wholesale prices rising, what you pay for petrol and diesel at the pumps fell between 3 and 4 pence on average in June
Fuel prices fell once again in June after rising by an average of 10 pence per litre between January and April of this year.
According to the RAC’s FuelWatch price checker, petrol prices hovered around 148 pence per litre at the start of last month and gradually decreased to an average of 145 pence per litres by the end. Furthermore, over this period of time the price of diesel dropped by four pence per litre from 154 pence down to just 150 pence – the cheapest it’s been since early February.
As such, filling up the average 55-litre fuel tank with diesel will set back drivers £82.50, which is roughly £2 cheaper than a month ago. For those with petrol cars, filling up in June will have been around £1.50 cheaper than in May.
These shrinking prices are in spite of the fact that the wholesale price of fuel is actually rising; the RAC says the wholesale price of a barrel of oil rose from $80 per barrel to $86 per barrel throughout the course of June.
However, the price of petrol and diesel still remains higher in Great Britain than it does in Northern Ireland. At the time of writing, the average cost of petrol in the UK mainland is 4.5 pence more expensive than across the Irish Sea, with diesel an “incredible” 8 pence pricier on average.
The RAC’s head of policy, Simon Williams, said this “raw deal” ultimately “leaves a bad taste in the mouth”.
“While oil has increased from under $80 at the start of June to the mid-$80s by the end, wholesale costs are still low enough to merit cheaper prices at the pumps,” Williams continued. “Looking at the fairer average prices charged in Northern Ireland, petrol should be 4.5 pence lower across England, Scotland and Wales and diesel should be a whole eight pence less”
With the next UK government set to be decided at this week’s general election, the RAC called on political leaders, as well as the Competition and Markets Authority to address the disparity and ensure the implementation of the PumpWatch scheme – a programme set to provide motorists with real-time fuel pricing data with the intention not only to give more power to the consumer, but also to drive down prices through competition.
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