June gives drivers respite at the pumps
New RAC figures reveal that UK drivers got some much-needed relief from rising fuel prices in June, but July could see them rise again.
Data from RAC Fuel Watch shows the cost of filling up with petrol at the forecourt fell from 129.37p a litre to 127.59p a litre over the month.
The news comes as welcome relief to drivers, who saw the worst monthly petrol price rise in 18 years in May.
The drop in price came as supermarkets cut their prices to reflect lower wholesale costs, after pressure from RAC to pass on savings to motorists.
The RAC welcomed the news, but warned that global uncertainty over the price of oil continues.
In response to the figures, RAC spokesman Simon Williams said the news offers some relief to beleaguered motorists who have suffered with rising forecourt prices.
He said: “The big fuel retailers finally bowed to pressure in early June by cutting the price of both petrol and diesel at the pumps.
“But we remain in a period of real volatility when it comes to fuel prices.
“While the price of oil slid back to around $72 a barrel in the middle of month, since this point it has been rising again – ending June nearer $76 a barrel and with wholesale fuel prices now also starting to rise again.
“With a significantly weaker pound, it would only take a few further oil prices rises this year to see prices start to rocket.
“As a result, motorists sadly shouldn’t hold out much hope for cheaper fuel in time for the start of the school summer holidays.”
Figures from the RAC Fuel Watch revealed that diesel also reduced in price, but only by 1.5p a litre, from 132.32p to 130.74p.
It now costs £70.17 to fully top up an average 55-litre family car with petrol (nearly £1 (98p) a tank less than it did a month ago) and £71.91 for a similar car that runs on diesel (86p a tank less than a month ago).
Data showed that the North East of England is the cheapest place to fill up in the UK, and while London saw the largest drop in average prices the capital remains the most expensive area to top up your tank.
Keep up to date with the up-to-date fuel prices with the RAC’s Fuel Watch page, or follow Fuel Watch on twitter for the latest updates.
Copyright Press Association 2018. Motoring News articles do not reflect the RAC’s views unless clearly stated.