Petrol has fallen beneath 150p a litre for the primary time since Russia invaded Ukraine final February, new information exhibits.
The common worth at petrol forecourts on Monday morning was 149.7p, in response to information from Experian, with some falling as little as 139.9p.
It means the common price of a litre of unleaded has fallen by 42p from its file excessive of 191.5p in July, with the AA saying it’s “a huge relief for drivers”.
The final time petrol was at an analogous degree was on 24 February – the identical day Russia invaded Ukraine.
Diesel, whereas not falling on the similar charge, has nonetheless dropped by 27p from final July, to a mean of 172.2p per litre.
Last March, a 5p reduce (6p when VAT is taken into account) to gasoline responsibility was launched, which is because of expire in two months.
AA gasoline worth spokesman Luke Bosdet stated the “crash in the average pump price of petrol is a huge relief for drivers, cutting £22.99 from the cost of filling the typical car tank”.
‘Rampant exploitation of drivers’
Mr Bosdet stated that gasoline at 150p a litre is “still historically way above the April 2012 record of 142.48p, the previous yardstick of dire pump prices”.
“Worse still, road fuel is set for a 6p jump in March when the fuel duty cut comes to an end,” he added.
“Indicative of the chaos of UK pump pricing and the rampant exploitation of drivers by many fuel retailers, the AA spotted supermarket and non-supermarket retailers yesterday charging less than 140p a litre in South Wales and Northern Ireland.
“How gasoline stations in areas of huge populations and excessive quantity gross sales can cost properly over 10p extra for gasoline than in largely rural components of the UK is a query that the Competition and Markets Authority must tackle.”
Prices sharply rose throughout 2022, partially attributable to Russia’s invasion of Ukraine, but additionally because of wider price of living-driven points.
Over the summer season, there have been protests in opposition to the sharp rise in gasoline, with some motorways seeing rolling roadblocks over the difficulty, urging the federal government to take motion.