UK petrol and diesel drivers given massive July | Tech News

Petrol and diesel drivers have been handed a main July enhance after a “record” fall on the fuel pumps. According to new knowledge from RAC Fuel Watch, the average price of diesel fell by virtually 17p a litre in June.

The massive decline has set a new report for the most important drop in a single month since 2000 in a massive win for highway customers. RAC knowledge reveals that diesel averaged 183.75p per litre in the beginning of June, however by the top of the month prices had tumbled 16.6p to 167.14p.

The massive decline has exceeded the earlier largest drop in May 2023 by virtually 5p (4.69p). Despite the massive decline, RAC head of coverage Simon Williams burdened that prices nonetheless remained larger than earlier within the 12 months.

Simon mentioned: “June has been a far better month for drivers on the back of the announcement of a deal between the US and Iran to end the conflict. The price of oil has fallen dramatically and prices at the pumps have reflected that.

“While diesel dropping 17p in a month is very positive, it’s also important to realise that its average price shot up 49p a litre from the end of February to 191.54p on 15 April, which equates to a rise of more than a penny a day. So, the cost of the fuel today remains far higher than it was at the start of the war.”

The RAC has predicted that petrol costs ought to dip beneath 150p quickly, with diesel additionally prone to fall beneath 160p.

However, Simon Williams has warned that the price of oil would need to fall additional to see a return to the pre-conflict costs seen earlier than February.

Simon added: “Fortunately, the oil price is now in the low-$70s range which is only $10 above the average of the first two months of the year. At the time the conflict began drivers had average prices of 132p for unleaded and 142p for diesel, so we’re still some way off those levels.”