Fuel prices slow to drop back down despite wholesale cost falling, says RAC
- Perry Richardson
- Apr 26
- 1 min read
Fuel prices across the UK are not falling as quickly as wholesale market data suggests they should, according to RAC head of policy Simon Williams.
Williams said petrol prices have dropped by just 1p per litre since 15 April, with diesel down by around 2p over the same period, despite lower underlying costs. He noted that Northern Ireland has seen faster reductions, with unleaded down 2p and diesel falling by more than 4p in the past week.
“Pump prices aren’t falling at the rate that our analysis of wholesale data indicates they should,” Williams said. “Drivers really ought to see some cheaper prices at the forecourts in the coming days.”
Data shows petrol peaked at 158.31p per litre on 15 April before easing to 157.22p by 24 April, a fall of 1.09p. Diesel dropped from a peak of 191.54p to 189.59p over the same period, a reduction of 1.95p. However, both fuels remain significantly higher than at the end of February, with petrol up 24.4p per litre and diesel up 47.2p.
Motorists yet to see full benefit of lower wholesale fuel costs as pump price reductions lag behind expectations
Williams highlighted that oil prices rising back above $100 per barrel during the week may be contributing to retailer caution, although wholesale fuel costs remain below recent highs, particularly for diesel.
The slower pace of price reductions is likely to remain a concern for commercial drivers and fleet operators, where fuel represents a major operational cost. Industry stakeholders will be watching closely to see whether forecourt prices begin to align more closely with wholesale trends in the coming weeks.
