Summary
Fuel prices in the UK have stopped rising after 43 days due to a decrease in crude oil prices. Although the prices are currently higher than they were earlier in the year, experts from the RAC expect them to decrease over the next few weeks as wholesale costs go down.
Key Facts
- Fuel prices had been increasing for 43 consecutive days.
- The ceasefire in the Gulf has lowered crude oil prices, affecting fuel costs.
- Petrol prices rose from 133p to over 158p per litre since late February.
- Diesel prices increased from 142p to 192p per litre.
- Filling up a petrol car now costs £14 more, and a diesel car costs £27 more.
- Diesel prices increased more because it is harder to refine and the UK imports about half its diesel.
- The RAC predicts petrol and diesel prices to drop by several pence per litre soon.
- The Competition and Markets Authority is monitoring forecourt prices to ensure fairness.
