Following a fall in wholesale costs prices on the forecourts are now at their lowest in almost three years.
On Thursday the average price of fuel was 144.4p per litre for diesel and 139.7p per litre for petrol, according to the RAC.
RAC fuel spokesperson Simon Williams said, “It is great news for drivers that average petrol and diesel prices are now at their lowest levels in nearly three years, with some excellent deals available for drivers who shop around.
“Some supermarkets and enterprising independent forecourts are selling petrol for as little as 132p a litre or even lower.
“The reductions at the pumps reflects tumbling wholesale fuel costs brought about by a lower oil price, together with a favourable sterling to US dollar exchange rate. The latter is particularly important as oil is traded in dollars.
“We very much hope this trend of falling prices continues in the coming weeks, as retailers buy more stock at lower rates.
“As we’ve said consistently, it’s vitally important wholesale price savings are fully reflected at the pumps so drivers know they are getting a fair deal every time they fill up.”
AA president Edmund King said, “Pure and simple, the only reason why pump prices are nearly at a three-year low this week is because of the 5p fuel duty cut.
“Removing it threatens to send millions of low-income drivers back into the era of perma-high road fuel prices.
“Getting rid of the fuel duty cut unleashes a £3.30 a tank shock on the personal and family budgets of the 28% of drivers who spend a set amount when they go to a fuel station.
“That is more than nine million private motorists – most of whom are low-income and struggling to balance their budgets.”
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