Motorists across the country have been urged to avoid filling up their car until April if possible, with the cost of petrol and diesel set to fall. The prediction comes after five consecutive months of price rises, with petrol typically costing 139p per litre, and a litre of diesel averaging at 146p. However, Simon Williams, head of policy for the RAC, noted that drivers could soon pay significantly less to fill their vehicle’s tank, with the cost of oil dropping.
He said: “Drivers have had to endure five months of rising prices, so it’s good news wholesale prices have fallen significantly, and forecourt totem signs should soon be reflecting this. We expect retailers to start to cut prices this week as more buy in new supply at lower prices. As long as the cost of a barrel of crude oil stays around the $70-mark (£54) we believe there’s a chance drivers could see petrol heading back down towards 130p a litre.”
The cost of petrol and diesel depends heavily on the price for a barrel of crude oil, which is largely based on factors including supply and demand and geopolitical events.
In January 2025, the price of oil spiked to $82 (£63) per barrel. However, prices have since steadily dropped – currently costing around $69 (£53) for the same amount.
Whilst motorists are unlikely to receive a £10 saving each time they fill their car with fuel, it is highly likely that the cost of petrol and diesel will start to fall over the coming weeks.
Nevertheless, Simon urged all retailers of fuel to avoid taking the falling cost of oil as an excuse to boost their profits at a time in which motorists are being stung by other motoring costs.
He added: “As always in a falling market, much will depend on how fully retailers decide to pass on these wholesale savings at the pumps.
“The old ‘rocket and feather’ saying about prices going up like a rocket and falling like a feather will hopefully be proved wrong this time around.”
