Petrol prices fell by just 2.71p despite a 5p fuel cut announced by Rishi Sunak coming into immediate effect on Wednesday. 

Diesel prices on average dropped by only 1.59p across the UK since the announcement of the fuel duty savings. 

Research from the AA showed that the average petrol price was at 164.59p a litre while diesel was 178.72p a litre after the reduction came into place. 

This is compared to prices on Tuesday when average prices rose to 167.30p and 179.72p a litre.

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Luke Bosdet, the motoring organisation's fuel price spokesman, said: "The chancellor rode to the rescue of drivers on Wednesday and, even before the 6pm start of the fuel duty cut, drivers were reporting the price cut at some Asda forecourts.

"However, on Thursday, the average price of petrol showed that less than half (2.71p) of the fuel duty cut had been passed on to drivers."

The Chancellor told Westminster on Wednesday: "Today, I can announce that for only the second time in 20 years, fuel duty will be cut.

"Not by one, not even by two, but by 5p per litre."

Today, I can announce that for only the second time in 20 years, fuel duty will be cut.

"Not by one, not even by two, but by 5p per litre."