Drivers are being urged to fill up their tanks in the coming days after petrol prices dropped below 150p per litre for the first time since spring. Northern Ireland now leads the way with an average of just 146.8p per litre, according to the latest data. The price fall marks a significant milestone since the start of the Iran conflict in February.
Regional Price Drops Across the UK
Yorkshire and Humber (150.5p) and the North East (150.6p) are close to joining Northern Ireland below the 150p threshold, offering a boost to road users in England. The AA’s pump price spokesman, Luke Bosdet, warned that the low prices may not stick around, making it imperative for drivers to fill up in the short term while they can.
Bosdet said: “While pump prices are falling fast at present, another round of strikes and counter-strikes between the US and Iran over the weekend was a reminder of the potential volatility in the fuel markets.” He added: “For now, UK drivers will be happy with petrol prices that have fallen more than 7.5p since the end of May.”
Comparison to Pre-Covid and Historical Prices
Despite the recent falls, road fuel remains well above pre-Covid records. The previous record lows of 142.5p for petrol and 147.9p for diesel, set in April 2012, are still a way off. The 5p fuel duty cut (6p including VAT) continues to make filling a typical tank £3.30 cheaper than it would otherwise be.
AA president Edmund King commented: “While drivers have been pleasantly surprised by the speed of price falls at the pump, there is some way to go before prices return to where they were before the outbreak of the war.” He noted that some drivers fear “prices could go the other way” due to “uncertainty” over future actions of Iran and the US.
Outlook for Summer Getaway
King expressed hope that pump prices continue to tumble with the summer getaway late in July now coming into view. The positive trend comes as more tankers pass through the crucial Strait of Hormuz, which is reopening gradually after the US-Iran peace deal.
