Fuel Prices Decrease at Major Supermarkets

Petrol prices in the UK have reached a six-month low, with the average cost per litre dropping to 143p, a level not seen since mid-February. Diesel prices have also decreased, averaging 147.9p per litre, the lowest since late January. Despite this decline, the Automobile Association (AA) cautions that these figures should not be a cause for celebration, as they remain historically high compared to pre-pandemic levels. The AA highlighted that the average petrol price before the pandemic was 142.5p per litre in April 2012, indicating that current prices are still burdensome for consumers. The organization expressed particular concern for workers earning the national living wage who rely on driving for their jobs. If the 5p-per-litre fuel duty cut, introduced in March 2022, is removed, these workers could face significant financial strain. According to the AA, a worker who refuels weekly could lose 5.9% of the benefits gained from recent living wage increases if the fuel duty cut is rescinded. This cut, which effectively amounts to 6p per litre when VAT is included, is only guaranteed until March 2025, raising questions about future affordability for drivers. Luke Bosdet, the AA's fuel price spokesman, emphasized that while current prices are lower than the record highs of July 2022, they remain at a historically elevated level that continues to impact consumers' finances, particularly for low-paid workers who have recently seen wage increases during the ongoing cost-of-living crisis.