Fuel prices have dropped for the first time since the beginning of the Iran conflict, based on the latest RAC data. The average cost of petrol decreased to 158.1p per liter from 158.3p, while diesel fell from 191.5p to 191.2p.
Despite the decline, petrol remains 25p more expensive and diesel is 49p higher compared to prices at the conflict’s onset on February 28. The RAC expressed that “drivers will be relieved” as prices have not increased further.
Simon Williams, head of policy at RAC, noted that after 46 consecutive days of price hikes, both petrol and diesel costs have started to slightly decrease. He mentioned that wholesale prices are down, raising hopes for further reductions in the coming days.
Although prices are still elevated from the conflict’s outset, there is optimism for more drops in fuel costs. The closure of the Strait of Hormuz led to 46 days of consecutive price increases due to higher oil costs.
Brent crude oil prices have eased to around $98 a barrel during a 10-day ceasefire between Israel and Lebanon. The RAC Foundation estimated that motorists have collectively paid £1.4 billion more in fuel bills since the conflict began.
For real-time fuel prices, the RAC provides a national average for petrol and diesel, including breakdowns for supermarkets and motorway stations. The government has launched a new “fuel finder” scheme to monitor price changes at all UK filling stations promptly.
To save money on fuel, consider avoiding expensive motorway service stations and plan refueling stops strategically. Regular car maintenance can also optimize fuel efficiency.
