Fuel prices have remained at a three-year low, despite a brief increase in oil prices due to tensions in the Middle East earlier in October, according to new data from RAC Fuel Watch.
The average price of petrol across UK forecourts has risen slightly to 135.2p per litre, up by just 0.3p from September. This means that filling up a 55-litre family car now costs £74.40.
Diesel prices have increased by 0.7p, reaching 140.2p per litre. As a result, filling up a family car with diesel now costs just over £77. The UK continues to have the most expensive diesel in Europe, a position it has held for 21 of the past 27 weeks.
However, drivers can save money by filling up at supermarket forecourts. The average price for unleaded at one of the 1,487 supermarket stations is 132p per litre, while diesel costs 136.8p, saving drivers 3p a litre, or nearly £2 per tank.
In Northern Ireland, fuel prices are even lower. The average price for petrol is 130.4p, and diesel is 134.1p. These prices are 5p and 6p cheaper than the UK averages for both fuels, and 2p less than supermarket prices.
At Costco’s 20 stores in England and Scotland, petrol is priced at 127p per litre, while diesel costs 131.7p, which is more than 8p cheaper than the UK average.
Simon Williams, head of policy at the RAC, commented: “Although oil prices briefly spiked to around $80 a barrel in early October due to increased tensions in the Middle East, pump prices have thankfully remained stable at a three-year low.”
He also noted the Chancellor’s decision to extend the 5p fuel duty cut, which is positive for drivers. However, Williams pointed out that 55% of the total price of a litre of fuel still goes towards taxes, including fuel duty and VAT.
Williams also highlighted that Northern Ireland continues to benefit from lower prices, and that the Government’s efforts to monitor competition in the road fuels retail market are promising. In two months, the Competition and Markets Authority will begin using its powers to oversee fuel prices. Additionally, by the end of 2025, a new “Fuel Finder” scheme will require retailers to report their prices to a central database within 30 minutes of any changes.
He added, “We hope the Government’s actions will ensure drivers get a fairer deal every time they fill up.”
The RAC’s free myRAC app can help drivers find the cheapest fuel nearby, offering up to nine searches per day within a 2, 5, or 10-mile radius. The RAC Fuel Watch online resource also provides details on average fuel prices at the major supermarkets and motorway services, as well as a historical price breakdown and daily cost breakdowns for petrol and diesel.
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