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Fuel prices fall for first time in 2021

Date: 07 September 2021   |   Author: Sean Keywood

UK fuel prices went down very slightly in August, following nine straight months of increases, according to the RAC.

It said the average price of a litre of diesel went down by just 0.01p, to 136.65p, while the average litre of petrol was down by 0.27p to 135.02p.

Despite the respite from the successive increases, the RAC points out that prices are still around 20p per litre higher than they were in summer 2020.

RAC spokesman Rod Dennis said: "A full nine months of continuous price rises finally came to an end in August, but that's really no comfort at all to drivers who have been paying considerably more to fill up this summer than last year.

"While an end to rising prices is to be welcomed, it remains the case that there's little immediate sign that pump prices are actually going to come down. 

"Key to what happens next is how the oil price changes. In the last few days, we've actually seen it increase once again after OPEC+, which represents many of the largest oil producing nations, decided to stick with its current plan to increase output only very slightly in the coming weeks. 

"This, if combined with more positive international economic news in the wake of the pandemic, could once again spell rising prices at the UK's forecourts. It's a picture we need to continue to monitor closely, particularly if oil again begins to creep up to near the $80 a barrel mark as it did in July."