Petrol prices have fallen by 2p a litre for the second month in a row, according to data on June prices from the latest RAC Fuel Watch report.
A litre of unleaded now costs an average of 114.71p compared to 116.69p at the start of June. Diesel has fallen slightly more at 2.2p a litre from 117.77p to 115.57p.
The average price of fuel is considerably lower than it was in February when a litre of unleaded was around 120p and diesel 122p. This means a tank of petrol is now around £3 cheaper (£2.91) than it was in February and diesel £3.54 cheaper.
Compared to May, a tank of unleaded for a typical 55-litre family car is now £1.09 cheaper at £63.09 and the equivalent diesel fill-up is £1.21 less at £63.56.
The RAC says the price drops are a result of a “substantial drop” in the oil price, which fell by 6% across the month with a barrel going as low as $44.23 on 20 June.
But RAC fuel spokesman, Simon Williams, remains cautious about petrol prices remaining low. He says: “While it’s definitely positive to see pump prices so much lower than they were at the start of the year – especially with the summer holidays just around the corner – the overriding message to motorists has to be one of caution as it seems unlikely that the oil price will stay this low for very long.”
South East once again the most expensive region for fuel
Over the month of June the North East saw the biggest fall in the price of unleaded with a litre coming down by 2.2p from 116.2p to 114p. Northern Ireland, however, started and finished the month with the cheapest fuel in the UK, with a litre now standing at 113.79p. The South East was once again the most expensive at 115.26p a litre.
London meanwhile, saw the greatest drop in the price of diesel with a litre reducing by 2.49p, taking prices to 115.63p per litre. The North East recorded the lowest end of month price at 114.46p and the South East the dearest at 116.23p.