Diesel falls 12p but should be lower, says RAC

Diesel prices fell by a grounds 12p per litre connected mean successful the UK past month, according to the RAC.

Pump prices dropped from astir £1.59 to £1.47, the radical said, cutting the outgo of filling up a household car by £6.50.

The RAC said the simplification was the largest monthly driblet it had seen since it began monitoring prices successful 2000.

But the motoring radical argued the driblet successful terms was "both agelong overdue and smaller than it should be" owed to wholesale prices being lower.

The British Retail Consortium, which represents supermarkets, said "big cuts" had been made to diesel prices successful effect to falling wholesale costs.

Diesel prices are present down much than 25% from 2022 highs, aft falling for 7 months successful a row.

The substance deed a £1.99 per litre precocious past summertime aft lipid prices soared pursuing Russian's penetration of Ukraine.

Petrol prices person besides been falling steadily since past and dropped from £1.46 to £1.43 connected mean past month, figures from the RAC said.

The motoring radical has suggested that prices person not travel down arsenic accelerated oregon by arsenic overmuch arsenic they should have, noting that prices were importantly little successful Northern Ireland.

The RAC said the chopped should person been much important to afloat bespeak changes successful the wholesale marketplace due to the fact that diesel wholesale costs had been little than petrol for 10 weeks.

In May, the Competition and Markets Authority (CMA) announced it was investigating substance prices and whether a "failure successful competition" had meant drivers overpaid.

The watchdog said it was "concerned astir the sustained higher margins connected diesel compared to petrol" truthful acold this year.

It said grounds it had gathered truthful acold suggested astatine slightest 1 supermarket had acceptable a higher people for its nett borderline connected substance prices successful 2022, which could person led rivals to travel suit and rise prices too.

The RAC said aft calling for prices to autumn successful caller months, it seemed "ironic that the latest terms cuts person yet travel successful the 2 weeks pursuing the Competition and Markets Authority's announcement".

"What's happened to the terms of diesel successful May volition nary uncertainty springiness the CMA thing to deliberation about," Mr Williams said. "We powerfully anticipation the pump terms reductions proceed arsenic they should."

Gordon Balmer, enforcement manager of the Petrol Retailers Association, which represents thousands of autarkic forecourts, said its proposal to drivers was to "shop around".

"As noted by the CMA, petrol and diesel prices are inactive volatile owed to the ongoing warfare successful Ukraine. The marketplace is precise dynamic and autarkic forecourts are successful galore cases undercutting supermarkets connected price," helium added.

A abstracted reappraisal of the substance marketplace has been ongoing for respective months, implicit archetypal concerns that retailers and forecourts were failing to walk connected a 5p substance work chopped to motorists.