TAXI DRIVERS REJOICE: Fuel prices fall for third month running, reaching lowest levels since 2021
- Perry Richardson
- Jun 5
- 2 min read
Petrol and diesel prices dropped for the third consecutive month in May, reaching their lowest average levels since mid-2021, according to the latest figures from RAC Fuel Watch.
The average cost of petrol fell by nearly 2p over the month, landing at 132.3p per litre. Diesel also came down by 2p, to 138.4p per litre. This marks the lowest petrol price since July 2021 and the cheapest diesel since September the same year.
The reduction equates to a saving of £1 on the cost of filling a typical 55-litre petrol or diesel vehicle compared to April. Over the past three months, petrol has fallen by more than 7p per litre and diesel by 8p, trimming around £4 off the cost of a full tank for drivers.
Supermarket forecourts continue to offer cheaper prices than the UK average. A litre of petrol at supermarket pumps is now priced at 129p, with diesel at 135p. Prices in Northern Ireland are even lower, with average petrol at 126.5p and diesel at 130.8p.
Some individual forecourts are offering further savings. Petrol at Sainsbury’s in Southgate, Huddersfield, is just 121.9p per litre. In London, Asda’s Park Royal site is pricing petrol at 122.7p. For diesel, Sainsbury’s Falls Road store in Belfast is the lowest at 126.9p, closely followed by Asda sites in Northern Ireland and Liverpool.
RAC’s Head of Policy, Simon Williams, noted that current prices remain suppressed in part due to the 5p fuel duty cut introduced in March 2022. He added that some retailers could still do more to pass on savings from wholesale prices.
With Brent crude oil averaging $64 a barrel in May, the RAC believes the average UK pump prices should be under 130p for petrol and below 134p for diesel. Williams said more reductions could be on the way if retailers adjust their pricing in line with falling wholesale costs.
