The cost of a litre of petrol and diesel has dropped further this week as traffic levels start to increase with the easing of Covid-19 restrictions.
A litre of petrol has fallen from a price of 126.9c in April to a current national average of 123.7c, with diesel seeing a drop from last month’s price of 116.9c per litre to a current average of 115.5, according to a price study by the AA.
The continued fall in fuel prices is welcome news for motorists as they begin to drive more frequently.
Fuel prices have been low for much of 2020 as global demand has dropped significantly. Both fuels have dropped significantly in price compared to the start of the year, when a litre of petrol cost 144.5c, with diesel costing 135.9c on average.
“As the country starts the slow process of lifting the COVID-19 restrictions, we have seen traffic levels start to increase somewhat with more people undertaking journeys to the likes of hardware stores and garden centres and, with many of us looking to keep our day-to-day costs down, the continued drop is fuel prices is something to be welcomed,” Conor Faughnan, AA Director of Consumer Affairs stated.
Crude oil prices have bounced back slightly but still remain significantly below levels seen before the COVID-19 outbreak.
Faughnan added: “As countries across the globe begin to ease restrictions, we could see demand start to increase but it is unlikely to be at the same rate as we would normally see for someone time. With so many across the world working from home, travelling less, and choosing to travel more by bike or walking, it’s likely that demand will stay low for the time being and as a result pump prices can be expected to remain close to their current level.”
