Fuel is now 20p a litre more expensive than a year ago

Pump prices fall fractionally but remain close to eight-year high

Monday, 6th September 2021, 3:16 pm

Fuel prices around the UK are now 20p per litre than they were a year ago, despite a pause in soaring costs.

The latest analysis of forecourt charges found that after nine months of increases, the price of petrol and diesel fell fractionally in August but remained substantially higher than during summer 2020.

RAC Fuel Watch data shows that the average price of a litre of unleaded petrol dropped just 0.27p to 135.02p while diesel fell just 0.01p to 136.66p from July to August.

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July saw petrol prices reach their highest level since September 2013 and diesel reach heights not seen since 2014, with August’s near-static prices keeping averages among the highest in recent years.

Between June and August, both petrol and diesel have remined are around 20p per litre more expensive than in the same period in 2020. An average tank of unleaded now costs £74.26 - 15p less than at the start of August - with a full tank of diesel costing £75.16.

RAC spokesman Rod Dennis said: “A full nine months of continuous price rises finally came to an end in August, but that’s really no comfort at all to drivers who have been paying considerably more to fill up this summer than last year.

“While an end to rising prices is to be welcomed, it remains the case that there’s little immediate sign that pump prices are actually going to come down.

“Key to what happens next is how the oil price changes. In the last few days, we’ve actually seen it increase once again after OPEC+, which represents many of the largest oil producing nations, decided to stick with its current plan to increase output only very slightly in the coming weeks. This, if combined with more positive international economic news in the wake of the pandemic, could once again spell rising prices at the UK’s forecourts.”

Supermarkets continue to offer the best value fuel, with average prices at their forecourts sittin at 132.09p per litre and diesel at 133.91p per litre.

Drivers in Northern Ireland pay the least for petrol and diesel - at an average of 132.04p and 132.75p respectively, while Londoners pay the most for unleaded (136.97p) and those in the South-East face the highest diesel costs (137.69p).