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| Petrol below £1.50 a litre for first time since Russia invaded Ukraine | Petrol below £1.50 a litre for first time since Russia invaded Ukraine |
| (34 minutes later) | |
| Average petrol prices have fallen below £1.50p for the first time since Russia invaded Ukraine last February, the AA motoring group says. | Average petrol prices have fallen below £1.50p for the first time since Russia invaded Ukraine last February, the AA motoring group says. |
| Pump prices hit a record 191.53p a litre in July, as global oil prices surged, but by Monday had fallen back to 149.74p. | Pump prices hit a record 191.53p a litre in July, as global oil prices surged, but by Monday had fallen back to 149.74p. |
| The AA said it was "a huge relief for drivers" but noted diesel prices were still higher than last year. | The AA said it was "a huge relief for drivers" but noted diesel prices were still higher than last year. |
| Diesel currently costs 172.21p a litre compared with 153.05p last February. | Diesel currently costs 172.21p a litre compared with 153.05p last February. |
| AA spokesman Luke Bosdet said it now cost about £23 less to fill a typical car (with a 55 litre tank) with petrol than it did in July 2022. | AA spokesman Luke Bosdet said it now cost about £23 less to fill a typical car (with a 55 litre tank) with petrol than it did in July 2022. |
| However, he said that petrol prices were "still historically way above" what they should be and that the end of a temporary fuel duty cut this March could lead to fresh rises. | However, he said that petrol prices were "still historically way above" what they should be and that the end of a temporary fuel duty cut this March could lead to fresh rises. |
| Petrol stations in cities and towns are also charging up to 10p more for fuel than those in rural parts of the UK, he added. | Petrol stations in cities and towns are also charging up to 10p more for fuel than those in rural parts of the UK, he added. |
| Filling a diesel car now costs a record £100 | |
| Petrol prices drop from record highs | |
| Fuel prices began to rise as countries unlocked from the Covid pandemic but surged higher when Russia - a major oil producer - invaded Ukraine, sparking concerns about global supplies. | Fuel prices began to rise as countries unlocked from the Covid pandemic but surged higher when Russia - a major oil producer - invaded Ukraine, sparking concerns about global supplies. |
| Along with rising food and energy prices, it's pushed inflation - the rate at which prices rise - to a four-decade high, creating a cost-of-living crisis in the UK. | Along with rising food and energy prices, it's pushed inflation - the rate at which prices rise - to a four-decade high, creating a cost-of-living crisis in the UK. |
| The government has cut fuel duty by 5p a litre in since last February to help drivers, with the overall cut worth 6p when VAT is factored in, the AA says. | |
| However, the discount is due to expire in March. |