Petrol prices at two-year low with further price drops expected in coming days

Driving home for Christmas just got a little less expensive as the RAC announces petrol prices have slumped to their lowest price in more than two years. A litre of unleaded petrol now costs 142.57p on average at the pumps, a price not seen since the end of October 2021.

That’s saving some motorists around 10p a litre compared to the run-up to last Christmas. However, it’s not all good news as diesel prices have not fallen meaning other drivers will be hit in the pocket more when filling up for their festive travel.

RAC fuel spokesperson Simon Williams said the drop comes during one of the busiest times of year on the roads. He said: “This is good news for drivers, especially as prices should continue to come down in the run-up to Christmas due to the wholesale price being significantly lower.

“While the biggest retailers haven’t announced any headline-grabbing big cuts, prices are falling steadily every day which is encouraging. We just have to hope this continues in the coming days.

“If wholesale prices are reflected more fairly at the pumps, we should see the average price of petrol drop below 140p in the next week. While diesel isn’t at a similar low point – as it averaged 6p less than its current 150.29p in August – it’s still down from last Christmas’s dizzying prices of around 175p a litre.”