Fleet World Workshop Tools
Car Tax Calculator
CO2 Calculator
Car Comparator
Van Tax Calculator
EV Car Comparator
BiK Rates Company Car Tax

Drop in petrol price not good enough, says RAC

The price of petrol fell for the third month running in October but fuel prices are still too high, according to the RAC.

The RAC says both petrol and diesel are still 2p too expensive

A litre of petrol is now nearly 3p (2.73p) a litre cheaper than it was at the beginning of August (129.15p) whereas diesel is only 1.55p cheaper (132.04 on 1 August).

The average price of supermarket petrol was 123.01p – down 1.05p; diesel 126.55p – down 1.48p. At the end of October Asda was selling the cheapest supermarket unleaded at 121.64p a litre, 1.44p ahead of its nearest rival Tesco (123.08p). It also had the lowest priced diesel at 125.14p, 1.54p below Tesco (126.68p).

RAC fuel spokesman Simon Williams said: “It’s clearly good news for drivers that pump prices reduced in October, but it’s disappointing they haven’t fallen further given the conditions were so favourable with the price of oil averaging under $60 a barrel and the pound strengthening to $1.29.

“As things stand both petrol and diesel are still 2p too expensive and should really be reduced. Sadly, we suspect this is extremely unlikely as the wholesale market is now beginning to go the other way, which will start to eat in to the accumulated saving that should have been passed on to drivers before.”

For more of the latest industry news, click here.

Natalie Middleton

Natalie has worked as a fleet journalist for 16 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. As Business Editor, Natalie ensures the group websites and newsletters are updated with the latest news.

Leave a comment

Your email address will not be published. Required fields are marked. *