Price of petrol and diesel falls for the fourth consecutive month in October – and comes close to its 2009 low
Petrol and diesel prices continued to slide for the fourth month in a row in October, new figures suggest, with diesel hovering close to the low price it hit in 2009.
Unleaded fell to 107.82p during October, from 109.45p at the start, making filling an average family car 90p cheaper, RAC said this morning. That's a fall of £5.08 since the beginning of July.
Meanwhile, the fall in diesel was less marked – it hit 109.95p at the end of the month, down from 110.26p at the beginning. But that still put it within spitting distance of the 109.75p it fell to in December 2009.
Brent crude hit an average of $48 a barrel during October, although RAC did point out the price was more volatile than during preceding months, rising above $50 for five days early on in the month, then dipping as low as $45.95.
“A year ago motorists had probably become accustomed to only ever seeing prices go up so having four consecutive months of the petrol price coming down is a pleasant surprise," said RAC fuel spokesman Simon Williams.
"Fuel is without doubt the biggest cost of motoring and the forecourt price is a constant cause of concern for drivers which makes this relief at the pumps all the more welcome.
“The question is how low will prices go, albeit with the caveat that two-thirds of every till receipt is made up of tax through fuel duty at 57.95p a litre and VAT on top. And, as prices head towards the £1 mark, the tax take rises to 75 per cent.”