Home Business NewsBusinessAutomotive News Both petrol and diesel ‘came down substantially in December’

Both petrol and diesel ‘came down substantially in December’

by LLB Finance Reporter
5th Jan 24 11:43 am

New figures released by the RAC reveals that in December petrol prices came down by 6p per litre.

The RAC said that on 1 December the average price of fuel fell from 146.7p to 140.6p per litre on 31 December.

The average price of diesel fell from 154.3p to 149.2p in December, and this was the second consecutive monthly price cut for fuel at the forecourts.

RAC fuel spokesman Simon Williams said,“It’s clearly good news that both petrol and diesel came down substantially in December.

“While we’re starting the year paying much less at the pumps than we have done, it’s still galling to know that drivers aren’t being charged a fair price in comparison to Northern Ireland where the very same petrol and diesel is at least 5p a litre cheaper.

Seven tips to get your Self Assessment tax return right

“It’s surely impossible to argue that competition is working properly if prices are so vastly different in two parts of the UK.

“We continue to call on the biggest retailers to play fair with drivers and lower their prices to match what’s being charged in Northern Ireland.

“We also urge Energy Security Secretary Claire Coutinho, who is on a mission to bring greater transparency to fuel pricing following the Competition and Markets Authority’s investigation concluding drivers were overcharged to the tune of £900 million in 2022, to ask the supermarkets why they won’t charge similar prices to the averages seen across Northern Ireland.”

A Department for Energy Security and Net Zero spokesperson said, “The drop in petrol prices in the run-up to Christmas was good news for many hardworking families driving hundreds of miles across the country.

“We want fuel prices to stay down for 2024 and beyond. That is why the Government is giving the competition watchdog tough new powers to oversee the market and make sure retailers pass on savings.

“This stance is working, and we will continue progressing plans for fuel retailers to share up-to-date price information that will help customers to easily shop around for deals.”

Leave a Comment

You may also like


Sign up to our daily news alerts

[ms-form id=1]