Wednesday 6 November 2019 12:01 am

Petrol price falls for third consecutive month in October

The price of petrol fell for the third month in a row in October, according to data from RAC fuel watch, with a litre of unleaded nearly 3p cheaper than it was at the beginning of August.

The average price of a litre of unleaded dropped 1.57p to 126.42p at the end of the month, down from 127.99p at the start. 

Read more: Falling fuel prices hold inflation at three year low

Diesel also fell a similar amount from 132.08p to 130.49p, reversing September’s slight increase.

The price fall means that filling a 55-litre family car now with petrol now costs £69.53, the first time it has fallen below £70 since March, a saving of 86p on last month.

An equivalent diesel fill-up is now £71.77, down 87p from £72.64.

At the end of October the average price of supermarket petrol was 123.01p, a decrease of 1.05p. Diesel was at 126.55p, down 1.48p.

Asda was the cheapest supermarket for filling up, at 121.64p a litre for petrol and 125.14p for diesel. 

Tesco was in second place with petrol at 123.08p and diesel 126.68p.

The cheapest fuel can be found in Northern Ireland and the most expensive in the South East.

RAC fuel spokesman Simon Williams said: “It’s clearly good news for drivers that pump prices reduced in October, but it’s disappointing they haven’t fallen further given the conditions were so favourable with the price of oil averaging under $60 a barrel and the pound strengthening to $1.29.

Read more: Petrol prices fell even as drones struck Saudi oil

“While this [is] positive we feel [the supermarkets] could have gone quite a bit further. This is borne out by the average price only dropping just over a penny since then.

“As things stand both petrol and diesel are still 2p too expensive and should really be reduced. Sadly, we suspect this is extremely unlikely as the wholesale market is now beginning to go the other way.”

Main image credit: Getty