Petrol prices are at their lowest in more than two years, the RAC has said.
A litre of unleaded petrol now costs 142.57p on average at the pumps, a price not seen since the end of October 2021.
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It is around 10p a litre cheaper than in the run-up to last Christmas, but diesel prices have not fallen.
RAC fuel spokesman 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.
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“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’ dizzying prices of around 175p a litre.”
Following the Competition and Market Authority’s (CMA) July report on the road fuel market, a new voluntary scheme for fuel retailers to share daily pricing data was set up at the end of August.
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It means that motorists can now locate and check the latest prices at local forecourts to help ensure they get the best price on the day.
How can I locate the cheapest fuel forecourts?
Websites like Petrolprices.com let you search for petrol stations offering the best prices near you.
The website has over 3,800 petrol stations from the CMA data providing daily price information for unleaded, diesel, super unleaded and premium diesel.
You need to register with the site, enter your postcode and tell it how far you’re willing to travel for fuel (up to 20 miles) and what fuel type you’re after.
Do bear in mind though that you can only search the site five times a day, but if you download the app you have unlimited searches.
Of course how much you’ll save or spend depends on how often you fill up which is dependent on how often you use the car, which may vary per household.
It’s also important to note that prices will vary based on your location and from week to week, that’s why it’s a good idea to always make sure you’re getting the best deal.
Petrolprices.com isn’t the only site offering this handy comparison tool.
Fleet News and Allstar also lets you check petrol prices across the counties so you can see how your region compares to the UK average.
Comparison website Confused.com also has a petrol prices checker that lets registered users find petrol prices within a five, 10 or 25 mile radius.
How else can I cut fuel costs?
There are ways to save an extra 5p per litre if you sign up for major supermarket loyalty schemes.
Esso has also partnered with Nectar for its loyalty scheme and you can get 5p off a litre when you swap 300 Nectar points.
Drivers with a BPme rewards card will get one point for every £1 they spend in-store or on a litre of regular fuel at a BP garage.
Motorists will get £1 off their fuel or shopping for every 200 points.
Texaco, Shell, Sainsbury’s and Tesco loyalty card holders can also get money off their bills.
You can also cut fuel costs by driving more efficiently. This can be achieved by:
- Accelerating gradually without over-revving
- Always driving on the highest possible gear
- Allowing your car to slow down naturally as your brake
There are also sites you can use to help you find the cheapest petrol prices near you, like PetrolPrices.com and Confused.com.
These allow you to search the prices of UK petrol stations.
All you need to do is enter your postcode and tell it how far you want to travel (up to 20 miles).
It’s also so easy to forget about the clutter building up in your car – whether it’s tools, kids’ toys or general rubbish.
But it turns out additional storage space can increase fuel costs by a whopping 12%.
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So, don’t forget to do a car clear-out every now and then.
And, if you’re driving at a slower speed, think about taking the roof rack off and switching off the air-con to save on running costs.
