Fuel prices fall at record rates during June
Fuel prices fell at record rates during June with diesel dropping by 17p a litre and petrol prices coming down by nearly 8p.
The latest data from RAC Fuel Watch found that diesel averaged 183.75p at the start of June but fell to 167p by the end of the months, the largest single-month reduction since 2000. Meanwhile, the average price of petrol dropped from 159p to 151p in the month.
The sharp fall was driven by substantial decreases in the price of oil.
The diesel price drop was greatest at the big four supermarkets with their average price coming down 19p a litre from 182p to 163p. Unleaded reductions were recorded at 7p across UK supermarkets, while motorway petrol prices were down by nearly 8p.
Price of oil
RAC head of policy Simon Williams said: “June has been a far better month for drivers on the back of the announcement of a deal between the US and Iran to end the conflict. The price of oil has fallen dramatically and prices at the pumps have reflected that.
“While diesel dropping 17p in a month is very positive, it’s also important to realise that its average price shot up 49p a litre from the end of February to 191p on 15 April, which equates to a rise of more than a penny a day. So, the cost of the fuel today remains far higher than it was at the start of the war.
“As things stand, petrol should dip under 150p soon and diesel ought to get to below 160p but we would need the price of oil to fall further to see a return to the pre-conflict prices.
”But it’s still Northern Ireland that leads the way with the cheapest average prices – here, the average price of petrol is already 147p and diesel 162p.”
