Image source, Getty Images
By Katy Austin & Faarea Masud
Average petrol prices have fallen below £1.50p for the first time since Russia invaded Ukraine last February, the AA motoring group says.
Pump prices hit a record of 191.53p a litre in early July, but by Monday had dropped down to 149.74p.
The AA said it was “a huge relief for drivers” but noted that diesel prices were still higher than they were last year at 172.21p a litre.
Diesel cost 153.05p per litre when the Russian invasion began.
AA spokesman Luke Bosdet said it now cost about £23 less to fill a typical car, with a 55 litre tank, with unleaded petrol than it did in February 2022.
However, he said that petrol prices were “still historically way above” what they should be and that the end of a temporary fuel duty cut this March could lead to fresh rises.
Petrol stations in cities and towns are charging up to 10p more for fuel than those in rural parts of the UK, he added.
The news comes as the RAC said that the cost of charging an electric car had increased by around 50% in the last eight months due to rising energy prices.
Fuel prices began to rise as countries unlocked from the Covid pandemic but surged higher when Russia – a major oil producer – invaded Ukraine because of concerns about global supplies.
Along with rising food and energy prices, it’s pushed inflation – the rate at which prices rises – to a four-decade high, creating a cost-of-living crisis in the UK.