Cost of diesel finally falls below 150p per litre despite ‘price scandal’

Diesel drivers are being ‘ripped off’ says Fair Fuel UK

On Wednesday, the average price of diesel at the pumps hit 149.95p per litre, having last been below that mark on February 1, 2022.

A number of factors have caused fuel prices to fluctuate so heavily including the Russian invasion of Ukraine and the global cost of oil.

Last June and July, drivers in the UK were exposed to the most expensive fuel prices ever seen, with diesel almost hitting a staggering £2 a litre and petrol at £1.90.

At the time, it would have cost someone with an 80-litre commercial tank almost £160 to fill up, with that now falling to under £120.

The price drops are a major boost for businesses and drivers who rely on driving to make a living, with costs slowly easing.

Drivers received some slight relief from the Chancellor in March 2022 when the Government announced it would cut 5p per litre on fuel.

It was again renewed for another year in March this year, with Jeremy Hunt continuing the fuel duty freeze.

Luke Bosdet, the AA’s spokesperson on pump prices, commented on the fuel price drops, but warned that not all drivers will be happy.

He said: “You would think that a nearly 50p-a-litre crash in the diesel pump price would be a major cause of celebration.

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“However, each week, AA members continue to vent their anger and frustration at the pump price variations that are dictated by where they live.”

Mr Bosdet highlighted an example of one AA member who paid 135.9p per litre of diesel at a supermarket in Wantage on Monday.

Later that same day, he visited the same supermarket filling station in Winchester, where he was shocked to see prices were at 151.9p per litre.

The frustrated driver blasted forecourt owners who were “shamelessly” inflating prices unnecessarily when prices were already high.

Mr Bosdet concluded, saying: “And so the UK diesel price scandal continues, and the Competition and Markets Authority judgement can’t come soon enough.”

Before the pandemic, the highest price diesel had ever risen to was 147.89p on April 11, 2012, with the AA saying the economy is being weighed down by historically high pump prices.

Petrol also fell to another low this week, down to 143.45p, the lowest it has been since October 2021 and down 48p from its peak in July last year.

However, this is still more expensive than any pump price before Covid, when the highest average costs languished at 142.48p in April 2012.

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