Fuel Prices Stall After Summer Surge but Still Burn Wallets
End of Price Hikes Brings Little Relief
After a summer of soaring costs at the pumps, drivers finally saw a tiny dip in petrol prices in August. The average unleaded price nudged down just 0.27p to 135.02p per litre, while diesel dropped a mere 0.01p to 136.65p. Not much of a victory, given July’s record-breaking jump—unleaded saw its sharpest monthly rise since January, making last month the priciest for petrol in eight years.
Filling Up Still Hits Hard
Drivers pumping a typical 55-litre tank shell out £74.26 for petrol—only 15p cheaper than August’s start—and £75.16 for diesel. Supermarkets continue to offer the best bargains with unleaded at 132.09p and diesel at 133.91p per litre, both dipping slightly over August by around 0.3-0.4p.
E10 Petrol Debuts but Won’t Raise Prices
This week saw the launch of E10 petrol across Great Britain, with Northern Ireland slated for next year. The RAC is confident the switch won’t hike prices, as the extra cost of bioethanol has been baked into wholesale prices for months.
“A full nine months of continuous price rises finally came to an end in August, but that’s really no comfort at all to drivers who have been paying considerably more to fill up this summer than last year,” said RAC spokesman Rod Dennis.
Oil Prices Could Push Pumps Higher Again
The future is shaky. Oil prices have crept up again after OPEC+ stuck to its plan of minimal output increase. If the global economy keeps recovering post-pandemic, expect fuel prices to climb once more.
“There’s little sign that pump prices will drop. If oil nudges near $80 a barrel like in July, UK forecourts could feel the pinch again,” Dennis warned.
“Compared to 2020, this summer’s ‘staycation’ has been a costly affair with drivers paying about 20p more per litre—a pinch felt by many on long journeys.”
