Home Business NewsBusinessAutomotive News The price of petrol falls below 150p a litre for the first time in ten months

The price of petrol falls below 150p a litre for the first time in ten months

by LLB Finance Reporter
10th Jan 23 11:36 am

Figures from data company Experian shows that the average price of petrol have fallen below 150p per litre for the first time since last February.

The average price of a litre at the pumps on Monday was 149.7p a fall of almost 42p from 191.5p in July 2022.

AA fuel price spokesman Luke Bosdet said, “A 41.8p a litre crash in the average pump price of petrol is a huge relief for drivers, cutting £22.99 from the cost of filling the typical car tank.

“Fuel at 150p a litre is still historically way above the April 2012 record of 142.48p, the previous yardstick of dire pump prices.

“Worse still, road fuel is set for a 6p jump in March when the fuel duty cut comes to an end.

“Indicative of the chaos of UK pump pricing and the rampant exploitation of drivers by many fuel retailers, the AA spotted supermarket and non-supermarket retailers yesterday charging less than 140p a litre in South Wales and Northern Ireland.

“How fuel stations in areas of big populations and high-volume sales can charge well over 10p more for fuel than in largely rural parts of the UK is a question that the Competition and Markets Authority will have to address.

“The AA hopes that 2023 will be a year of transformation for fuel prices, where greater pump price transparency, mirroring Northern Ireland’s fuel price checker, will direct motorists to retailers charging fair prices and re-invigorate the level of competition seen before the Covid pandemic.”

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