Average petrol prices in the UK have seen their first fall after 11 weeks of record highs – but the fall should be much bigger according to the AA.  

While petrol prices dipped for the first time in 11 weeks on Monday, it’s over a month since wholesale prices started to drop after the Jubilee bank holiday

Petrol fell by 0.30p a litre on Monday and remained below Sunday’s record high yesterday at 191.36p a litre.   

However, it’s over a month since wholesale prices started to drop after the Jubilee bank holiday and the AA also pointed out that wholesale petrol prices this week are already 15p lower than the record highs at the start of June.   

Diesel also dipped again yesterday, averaging 198.91p a litre, compared to its record of 199.07p a litre on Friday (1 July).  

Luke Bosdet, the AA’s fuel price spokesman, said that while the falling pump prices were good news amid the cost-of-living crisis, the reductions “should be much bigger and should have started last week if not sooner”.  

“The question now is how much of the potential saving will be passed on to the consumer. As usual, the fuel trade shows itself very reluctant to pass on lower costs and give relief to hard-pressed motorists.  

“Although tax cuts to support drivers would be very welcome, and may still be needed for rural communities, small businesses and low-income workers who have to drive, it leaves a bad taste for government money, which could be used for NHS pay rises and other financial support, to be used providing the savings that the fuel trade has in its power to pass on anyway.”  

The AA also warned that a ‘pump price lottery’ means some communities are still suffering record levels – it’s watching closely to see whether lower fuel costs are reflected across all communities and not just where there are competitive retailers doing the right thing.  

The RAC said that with oil dropping by $10 a barrel yesterday, causing wholesale prices of both petrol and diesel to fall further, the pressure was on the supermarkets to “act and treat drivers fairly”.  

Fuel spokesman Simon Williams outlined: “We can guarantee retailers will be rushing to buy new stock today at these low prices, but they will no doubt still remain reluctant to reduce their forecourt prices. If we don’t see a significant supermarket cut in the next few days, it will be nothing short of scandalous.  

“And, even if retailers eventually do the right thing, we still need further help from the Government to make the cost of driving more affordable as so many people are being financially impacted by the record-high prices.   

“Perhaps a change at No 11 will finally lead to the fuel tax cuts we’ve been calling for,” he summed up.