UK Petrol Prices Drop as Wholesale Costs Fall
The AA reports average UK petrol prices fell 5p per litre since October, with further reductions possible as wholesale costs decline.
Average petrol prices in the United Kingdom have fallen by 5p per litre, dropping from a peak of 174.7p on October 5 to 169.7p. This decline follows an October peak that represented the highest pricing since August 2022. Diesel prices saw a more modest decrease of 2p per litre, moving from 199.9p on October 6 to 197.9p.
The AA predicts a further potential reduction of 10p per litre because wholesale costs for unleaded fuel dropped from 77p on October 13 to below 62p by November. The Fuel Finder UK price index corroborated this trend, recording a 5.6p per litre decrease over 30 days as of November 9.
Significant regional disparities persist across the country. While rural communities and areas in northern England, Wales, and Scotland have seen prices dip below 160p per litre, London and the South East lack these bargain prices. Bishop Auckland was cited as a specific example of a location where fuel stations have become highly competitive.
Luke Bosdet, a spokesman for the AA, criticized forecourts that continue to charge near October peak prices. He described the failure to pass on the significant drop in wholesale costs to consumers as "unforgiveable."
