Driving home for Christmas? Fuel prices lowest for years

If you’re a driver, you can look forward to the lowest fuel prices at Christmas since the pandemic began, recent data from RAC Fuel Watch shows.

Petrol and diesel prices rose slightly in November, but there’s still overall savings compared to previous years.

Current fuel prices

In November, the price of petrol increased by a penny to 136.5p per litre, while diesel saw a rise of nearly 2p, reaching 142.25p.

That means a full tank for a 55-litre family car will set you back £75 (petrol) or £78 (diesel).

Year-on-year savings

Despite the recent uptick, petrol is 10.5p cheaper than last year – a saving of around £5.75 per tank – while diesel has dropped by 12p, saving drivers about £6.60 per fill-up.

Comparison with previous years

When we look back two years – nine months after oil prices soared when Russia invaded Ukraine – the difference is even greater.

Petrol prices averaged 159.9p, while diesel was at 183.9p.

This means:

• Petrol is now £12.90 cheaper.
• Diesel is £22.90 cheaper.

Regional price variations

Fuel prices also vary across the UK. The cheapest petrol and diesel prices in November were  in Northern Ireland while the most expensive were in England.

	Petrol prices (per litre)	Diesel prices (per litre)
England	136p	141.7p
Wales	134.9p	140.2p
Scotland	134.5p	140.6p
Northern Ireland	130.6p	135.2p

Future prices

While prices have seen a slight rise, the cost of oil has remained stable.

That said, the Competition and Markets Authority says retailer margins are still a concern.

They’ve recently highlighted a need for more competition among fuel retailers.

Save money on fuel

We have a few tips and tricks that may help you save money on petrol:

• Find the cheapest fuel using a price comparison site such as PetrolPrices, carwow.co.uk or Confused.com. The RAC also has a real-time fuel tracker showing price drops.
• You could also try filling up at a different time or on a different day – weekends are usually more expensive as demand is higher.
• Sign up for a loyalty scheme. Lots of fuel retailers have initiatives to help you save money on petrol and diesel. Shell Go+, Texaco Star, BPME, Tesco Fuel Clubcard and Esso Nectar are popular examples.