For the first time in 11 months the average price of diesel has dropped below 170p and according to data company Experian shows that on Monday forecourts were charging on average of 169.9 per litre.
The cost of filling up a typical 55-litre family car with diesel has plummeted from £109 in June 2022 and should now cost an average of £93.
The RAC has said that “if retailers play fair with drivers, the price should fall further” and the wholesale price is now back to what it was when Vladimir Putin invaded Ukraine.
RAC fuel spokesman Simon Williams said, “This is good news for drivers of diesel vehicles as they have had to endure some tough times, with the average price of a litre nearly hitting £2 at the end of June.
“Since then the price has tumbled 30p, saving more than £16 on a full tank.
“But, if retailers play fair with drivers, the price should fall further still as the wholesale price is now back to a level last seen around the time Russia invaded Ukraine.
“Even with retailers taking a higher-than-average margin of 10p a litre, the price of diesel should really be 10p lower at 160p.”