Fuel prices fall after record highs – .

Fuel prices fall after record highs – .

Hard-pressed motorists have finally seen fuel prices drop from record levels.
The average price of a liter of gasoline and diesel has fallen by almost half a cent in recent days, the AA said.

November 2020 was the last time oil prices fell by so much in a matter of days.

Gasoline prices peaked at 147.72 pence per liter on Sunday, November 21, while the all-time high for diesel was set at 151.10 pence per liter a day earlier.

Average prices on Tuesday fell to 147.28 pence for gasoline and 150.64 pence for diesel.

The AA said the drop follows a drop in wholesale costs, with gasoline dropping 12 pence per liter since mid-November.

Luke Bosdet, AA spokesperson on fuel prices, said: “The dramatic drop in the wholesale price of gasoline and diesel has been such that lower prices at the pump have become inevitable.

“It just took a lot longer than what’s happened in recent years. “

Mr Bosdet said retailers generally hold their prices until supermarkets “take the lead” and make cuts, but that did not happen in this case.

“Without this initial boost, prices at the pump have stagnated and this is a potentially worrying development if it sets the model for the future,” he warned.


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