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Fuel pump prices are at their lowest since 2019 - but you could be getting your petrol even cheaper!

Peter Kelly
Feb 24, 2020


 

Paying less at the fuel pump can only be good news - but you could be powering your vehicle for even less cash, if everyone starts playing ball.

According to the AA’s fuel price report, Diesel costs have slumped by 5 pence per litre to its lowest rates since 2018, with petrol standing at 127.66 pence per litre, down from 128.01 pence per litre in January.

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But despite these falling rates, retailer costs and profits are still at their highest in more than a year - meaning that we could see even lower fees for motorists, according to AA experts.

The AA suggest that the increased growth in margin could show that petrol stations aren’t being particularly proactive in passing on their own cost savings to their punters.

AA experts say that we could be saving at least 1p more per litre, should the powers that be take the initiative.

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And there’s yet more cause for optimism, because the AA aren’t the only expert organisation forecasting that that petrol prices will keep dropping. The RAC Fuel Watch says it’s “very likely” that both petrol and diesel prices will come down further.

And now could be the time to capitalise on cheaper fuel costs. These findings come amid rumours that fuel duty prices could be increased for the first time in over a decade, and any increase on the current 57.95 spend per litre would almost certainly increase overall fuel costs.

If you want to save on the costs of running your motor across the board, head to A Spokesman Said and search for the best deals for you

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