Current Prices: Petrol 132.00p/L | Diesel 141.26p/L
Another Week, Another Drop
UK fuel prices continued their gentle descent this week, with both petrol and diesel falling 0.6p per litre. That’s two consecutive weeks of declines, bringing petrol below the 132.5p mark for the first time in recent months.
Year-on-Year: The Real Story
The annual comparison is where drivers are seeing genuine relief. Petrol is now 6.4p cheaper than this time last year – that translates to £3.20 saved on a 50-litre tank, or around £166 annually for weekly fill-ups. Diesel has dropped 4.3p year-on-year, saving £2.15 per tank or roughly £112 over twelve months.
The Diesel Gap Narrows Slightly
Diesel now sits 9.26p above petrol, marginally tighter than last week’s 9.18p spread. The premium remains significant though – diesel drivers are still paying £4.63 more per 50-litre fill compared to their petrol counterparts. For those weighing up their next vehicle purchase, the traditional diesel fuel economy advantage continues to erode at these price differentials.
Price Breakdown
The pump price splits roughly into thirds: base fuel cost (57.05p for petrol, 64.76p for diesel), fuel duty at 52.95p, and VAT at 20%. The duty rate remains frozen – any changes in the upcoming Spring Budget could shift the landscape considerably.
Looking Ahead
The year-long chart shows prices holding in a relatively stable band, with the downward trend from summer peaks now well established. Barring geopolitical surprises or policy shifts, expect continued modest fluctuations rather than dramatic swings.