The average price of petrol and diesel at UK filling stations is now falling more quickly than at any other point in 2024, according to the RAC.
The motoring organisation said the average price of both fuels was now nearly 7p-per-litre cheaper than a month ago, at 136.15p and 140.87p respectively.
The RAC said it expected prices to fall to a three-year low as soon as the end of September, with the potential for new petrol and diesel averages of 132p and 138p respectively within a fortnight.
According to the RAC, the falling prices are due to relatively low oil prices, and a relatively strong pound, with fuel traded in US dollars.
RAC spokesperson Simon Williams said: “It’s really encouraging to see pump prices coming down so rapidly, which we know is as good for drivers’ wallets as it is for keeping the headline level of inflation in check.
“Based on wholesale pump prices, which is what retailers pay to buy the fuel in the first place, we know there’s scope for further price cuts so we very much hope that within the next few weeks we’ll see pump prices reach their lowest levels in three years.”
