Data shows that unleaded petrol prices are continuing to drop slowly in price, down to an average of 163.26p per litre. The RAC forecasts that the price of petrol and super unleaded will not change substantially in the coming days – a welcome break for some drivers.
However, diesel drivers are facing challenging times as diesel costs are likely to continue to rise, with the latest averages showing prices at around 185.49p per litre.
As a result of this, experts are warning drivers to be selective about where they fill up to help keep their costs down.
Motorway service stations will often have far higher costs for petrol and diesel because they do not sell the quantities that supermarkets do, and don’t attract the same discounts as a result.
These areas also need to account for a number of other factors including parking and amenities like toilets and showers.
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New research has found that filling up a car is £36.30 more expensive than it should be when compared to the rate of inflation.
When petrol and diesel prices peaked at the end of June 2022, they had reached £1.91 per litre of unleaded petrol and £1.99 per litre of diesel.
That is an increase of 209 percent and 219 percent respectively since 1997.
Back in 1997, fuel prices were fairly evenly matched, with unleaded petrol costing about 61.82 pence per litre on average, and diesel costing only a fraction more at 62.47 pence per litre.
If those prices had risen in line with inflation over the last 25 years (3.03 percent), unleaded petrol would cost about £1.30 per litre, and diesel would cost £1.31.
Car prices have also increased dramatically, by 821 percent in less than 50 years.
At the time of its release, a Ford Fiesta was valued at £1,856, whereas drivers now will be set back £17,905 for the latest model.
Based on average inflation of 5.03 percent per year between 1976 and 2022, a brand-new Fiesta could be costing you £15,422.
This means motorists are paying £1,672 more than inflation-level prices, although the advances in car technology and infotainment system may make up for the gap in price.