26 Jul 2022

Petrol Prices Drop to Provide Small Relief to Motorists

Petrol prices across the country are set to drop, providing some much-needed financial relief to motorists.

Already under pressure amid a cost of living crisis and spiralling petrol costs, that have hit record highs repeatedly of late, drivers can now expect a reduction of approximately £1.50 a tank according to the AA.

Falling from 191.53p a litre for petrol and 199.07p a litre for diesel to 188.76p for petrol and 196/96p for diesel, the reduction comes as wholesale prices for oil continue to tumble.

This continued trend could lead to savings of £10 on filling a tank within the next two weeks.

Luke Bosdet, AA fuel price spokesperson, told the Guardian: “Wholesale petrol’s trajectory, if sustained, would lead to savings of a tenner off a tank from the record highs, providing the fuel trade is prepared to pass them on.

“The problem is that, in many places, the price cuts are quite simply not happening despite more than six weeks of falling costs.”

Prices have been inflated since March primarily due to the ongoing Russian invasion of Ukraine, a conflict that shows no signs of ending any time soon.

A recent attempt by US President Joe Biden to encourage Saudi Arabia to increase oil output and ease global pressures failed, leading to another price rise in Brent crude oil.

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