Motorists across the United Kingdom are being advised to monitor fuel pumps closely in the coming weeks, as a significant drop in petrol and diesel prices is now forecast. This anticipated change follows Russia's decision to prolong a major ban on exporting key fuels.
RAC Predicts Sharp Price Drop for Drivers
According to the latest analysis from the RAC Fuel Watch, prices for petrol, diesel, super unleaded and premium diesel "should fall sharply". This welcome prediction comes as current averages see drivers paying 135.61p per litre for petrol and 144.53p for diesel.
The motoring organisation is reminding all road users, particularly those in Northern Ireland, to utilise tools like the Consumer Council Fuel Price Checker. This service displays the cheapest available petrol and diesel prices nationwide. For the rest of the UK, a government-mandated fuel price checker system is expected to be introduced in the coming months.
Supermarket Prices Remain Competitive
While recent weeks have seen increases, supermarket forecourts continue to offer some relief. Unleaded petrol at supermarkets currently averages 134.48p per litre, with diesel at 143.08p. These figures remain significantly lower than the UK-wide averages, highlighting the importance of shopping around for the best value.
Russia's Extended Ban on Fuel Exports
The primary driver behind the expected price shift is a geopolitical move from Russia. The Russian government has extended a temporary ban on gasoline exports through to 28 February. The decree, published on a recent Saturday, applies to all exporters, including producers, and is designed to maintain stability in Russia's domestic fuel market.
Furthermore, the ban has been extended through the same date for the export of diesel, marine fuel, and other gasoils for non-producers. These restrictions were first imposed in late August after Ukraine intensified drone strikes on Russian oil refineries and ports. These attacks exacerbated a domestic fuel crisis, leading to price spikes and temporary shortages in some Russian regions.
Although the Russian market has stabilised somewhat since the initial ban, domestic prices remain relatively high and attacks continue. The earlier deadline for the export restrictions was due to expire this month, but has now been pushed back to the end of February.
For UK drivers, this international development signals a potential period of relief at the pumps. By keeping a close eye on local prices and using available online checkers, motorists can ensure they benefit fully from the anticipated downward trend.
