The average price of petrol and diesel fell by 6.5p per litre in September, marking the ninth-largest monthly drop since 2000, according to new data from RAC Fuel Watch. This reduction has resulted in drivers saving £3.60 on every tank, bringing welcome relief at the pump.
The price of unleaded petrol averaged 134.79p per litre, down from 141.26p at the start of the month, while diesel prices fell from 146p to 139.5p. This means that a full 55-litre tank of petrol now costs £74, while a diesel tank is just under £77.
The fall in fuel prices has been driven by a decrease in the cost of crude oil, which dropped from $78 a barrel at the beginning of September to $72 by the end of the month. In comparison, the price stood closer to $90 in early July. A slightly stronger pound has also made wholesale fuel, traded in dollars, cheaper for UK retailers.
Since the beginning of May, petrol prices have fallen by 15.5p per litre, dropping from 150.3p and saving drivers £8.50 on a complete fill-up. Diesel prices have come down even more dramatically, decreasing by 18.5p per litre from 158p, equating to a £10 saving per tank.
The RAC expects further price reductions at the pump, potentially by as much as 4p per litre over the next two weeks, as retailers continue to pass on savings from the lower wholesale prices, which currently stand at 99p per litre for petrol and 103p for diesel.
Drivers who fill up at one of the big four supermarkets are currently enjoying additional savings, with petrol priced at 131.86p per litre and diesel at 136.47p per litre—around 3p cheaper than the UK average.
Simon Williams, RAC head of policy, commented: “Drivers will be very pleased to see prices at the pump not only continuing to fall but dropping by 6.5p in just a month as this translates to saving £3.60 on a full tank. Since the start of May, prices have come down dramatically, with 15.5p being shaved off unleaded and 18.5p off diesel.
Williams explained that the reduction is primarily due to falling oil prices, supported by a stronger pound. He added, “With analysts predicting oil may continue to fall on the back of a weakened global economy and Saudi Arabia upping its output to regain lost market share, the immediate future on the UK’s forecourts looks considerably brighter for drivers.
Motorists looking to further save on fuel can take advantage of the free myRAC app’s fuel finder feature, which helps locate the five cheapest prices within a chosen radius of up to 10 miles. The app is available for download on the App Store and Google Play.
For more information, drivers can visit the RAC Fuel Watch online resource, which provides average petrol and diesel prices at major supermarkets and motorway services, as well as price graphs dating back to 2000 and daily price breakdowns.
