Fall in petrol and diesel prices

12/05/2011

For the first time since the Budget-announced 1p fuel duty cut in late March, there has been a slight fall in the prices of petrol and diesel, the AA has claimed.

The average petrol price has dropped by 0.22p a litre, while diesel's price per litre has fallen by 0.53p.

The AA has said that part of the reason for the drop is because of cuts announced by supermarkets on Monday.

The average cost of a litre of petrol currently stands at 137.21p and for diesel it is 142.51p.

Over the same period last year, petrol was 121.60p a litre while a litre of diesel cost 123.05p.

RAC motoring strategist Adrian Tink said: "It's nice to know that prices can go down as well as up. Like the recent fuel duty cut, the fear is it will only be a short-term relief.

"With continued volatility in the oil market, our hopes would seem to lie with there being a price war between the supermarkets as we saw towards the end of 2008.

"The Government needs to do more, inflationary rises cannot go ahead and their stabiliser needs to be revisited urgently."