Petrol prices fall for second month

Friday 15 June 2012

UK petrol prices have for the second month running fallen by more than 4p a litre, the AA said.

Custom byline text:

It is a reduction not seen since the price collapse of late 2008.

However, AA Fuel Price Report research shows that, in late April, diesel car owners could have enjoyed pump prices much closer to petrol's for the first time in two years.

The AA said it believed Transport Secretary Justine Greening's calls for fuel price transparency, after an intensive AA campaign, may have helped contribute to a more rapid price fall.However, the driving group also warned fuel duty is due to increase again by 3p litre on August 1.June's AA Fuel Price Report shows that, since mid-May, average UK petrol prices have fallen 4.63p a litre from 138.4p to 133.77p.However, the overall 8.71p-a-litre reduction in the pump price petrol since the 142.48p record on April 16 is still short of where it should be, the motoring group said.In the past month, the average pump price of diesel has fallen 4.99p a litre, from 144.3p in mid May to 139.31p now. However, UK diesel costs at least 4p a litre more than in Europe.Edmund King, the AA's president, said: "It is of course excellent news that a two-car family's petrol costs have fallen £9.83 in the past month and £18.49 since the record high in April, but could the price crash have happened more quickly, as it did in Europe?"Pump price transparency, a key campaigning goal for the AA over the past seven years, could have ensured the £4.5 million-a-day switch of consumer spending from pump to high street boosted other businesses and lowered inflation far sooner."Meanwhile, a separate report has found UK holidaymakers driving to Europe are likely to pay significantly less at the pump this year due to the relative strength of the pound. Tourists from the UK could pay up to 8.6% less for unleaded petrol in Europe than they would have done a year ago, and diesel fuel could be as much as 10.4% cheaper.

Commenting & Moderation

We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis. If you're a relatively new user then your comments will be reviewed before publication and if we know you well then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules, which are available here.

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.

Petrol prices fall for second month

Commenting & Moderation

MOST READ

SPONSORED LINKS

MOST COMMENTED