Current Prices: Petrol 132.64p/L | Diesel 141.82p/L
The Good News: Modest Relief at the Pumps
UK drivers saw a small reprieve this week, with both petrol and diesel dropping 0.8 pence per litre. While this won’t dramatically impact your wallet on a single fill-up (saving roughly 40-50p on a typical tank), it represents a continuation of the downward trend we’ve seen since the summer peaks.
Year-on-Year: Real Savings Are Here
The more significant story is the annual comparison. Petrol is down 4.3p per litre compared to last January – that’s a saving of £2.15 on a 50-litre tank, or around £110 per year if you fill up weekly. Diesel drivers are seeing smaller savings at 2.5p per litre, equating to £1.25 per tank or roughly £65 annually.
The Diesel Premium Problem
Diesel now costs 9.18p more per litre than petrol – the widest gap we’ve seen in recent months. For context:
- A 50-litre diesel fill costs £4.59 more than the same amount of petrol
- Traditional diesel fuel economy advantages (roughly 10-15% better MPG) are being eroded
- If you’re doing under 15,000 miles annually, petrol might now be more economical
Looking Ahead
The chart shows relative stability over the past year, with prices oscillating in a fairly narrow band. Without significant geopolitical disruptions or policy changes, expect continued stability with gradual weekly fluctuations. The government’s duty rate remains unchanged at 52.95p per litre for both fuels.