Petrol prices are significant cheaper than a year ago (Picture: Edward Crawford/Shutterstock)
Motorists are in for a Christmas treat as fuel prices are set to be the cheapest in years over the festive period.
If you drive in the UK, Christmas has come early as motoring experts revealed that the cost of petrol and diesel is set to be the lowest since the coronavirus pandemic.
It comes as a relief for many car owners as the festive period can be an expensive affair.
While prices at petrol pumps increased by a penny last month, the forecourt prices are still significantly cheaper than a year ago, figures from the RAC show.
Fuel prices are looking promising for drivers (Picture: PA)
Here is a recap of the petrol prices and what to expect at the pump as the head into Christmas.
How much does petrol and diesel cost in the UK?
The RAC Fuel Watch has kept an eye on the fuel price trends over the years to help drivers keep track of costs.
This year, drivers are looking to save around £6 on a tank of fuel- particularly useful for those travelling long trips to visit loved ones.
In November, petrol prices rose by 1p to 136.5p per litre and diesel by 1.8p to 142.25p, meaning the cost of a full tank for a 55 litre family car was £75 for petrol and £78 for diesel.
The good news is that despite the rise, unleaded is still 10.5p cheaper than this time last year – equivalent to a saving of £5.75 per tank.
For the drivers of diesel guzzling vehicles, the savings are even bigger as diesel costs 12p less than last year.
Where is the cheapest petrol and diesel?
By UK nations, Northern Ireland has the cheapest fuel ahead of Christmas where petrol average was 130.6p and diesel 135.2p – 6p and 7p less than the UK average.
Sainsbury’s forecourts are the 4th cheapest supermarket petrol station (Picture: Getty Images)
England saw the most expensive prices as petrol hit an average of 136p and diesel 141.7p. Scotland and Wales recorded 134.5p and 134.9p for petrol and 140.6p and 140.2p for diesel.
While there is little you can do to affect the price in your region, shopping for the most affordable forecourt brand can make a difference.
This is what the latest prices at different supermarket petrol stations look like.
Asda – petrol 133.1p, diesel 138.6p
Morrisons – petrol 133.5p, diesel 139.6p
Sainsbury’s – petrol 133.4p, diesel 139.0p
Tesco – petrol 133.7p, diesel 138.9p
What about EV charging prices?
RAC said that the cost of charging an electric vehicle using public rapid and ultra-rapid chargers remains ‘stubbornly high’ despite wholesale energy price drop.
For those able to charge at home during off peak, the price was just 7p per kWh. Drivers with access to on-street lamppost or bollard charging during off peak paid 49p, while those relying on a rapid 50-149kw points paid 79p per kWh.
What affects petrol and diesel prices?
Several factors affect how much consumers pay on forecourts in the UK, including major political unrest and conflict such as the Russian invasion of Ukraine in 2022.
Other factors include the global price of crude oil, supply and demand for crude oil, refinery production and capacity, the pound to dollar exchange rate, distribution costs, how much fuel retailers charge for the margin they make, government fuel duty and end of year VAT charges.
When the latest conflict in Ukraine escalated in February 2022, the price of crude oil rocketed. On average, petrol costs 159.9p per litre and diesel 183.9p.
Simon Williams, RAC’s head of policy, welcomed the cheapest fuel since the pandemic as we are ‘heading up to the most expensive time of year for families.
‘Despite both petrol and diesel rising by a penny and two pence respectively in November, the difference to a year ago is considerable with petrol 10.5p lower and diesel 12p less.
‘This is great news for people making long festive journeys to visit friends and families as it should save them around £6 on a tank of fuel compared to last year.’
Get in touch with our news team by emailing us at webnews@metro.co.uk.
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