The great Christmas getaway for festivities with family and friends will cost motorists less this year after petrol prices fell to their lowest levels in two years.
Fresh data from the RAC shows the average price of petrol has fallen to lows not seen since 2021.
With as many as 32 million cars journeys expected to be made ahead of Christmas Day, the drop in fuel prices has come as an early present for motorists.
The Friday and Saturday before Christmas, 22 and 23 December, are forecast to be the busiest on the roads and motorways this season.
RAC fuel spokesman Simon Williams said: “Just as we head into one of the busiest times of the year on the roads a litre of unleaded now costs 142.57p – a price last seen at the end of October 2021, and one that’s around 10p a litre less than this time last year.
“This is good news for drivers, especially as prices should continue to come down in the run-up to Christmas due to the wholesale price being significantly lower.
“While the biggest retailers haven’t announced any headline-grabbing big cuts, prices are falling steadily every day which is encouraging. We just have to hope this continues in the coming days.
“If wholesale prices are reflected more fairly at the pumps, we should see the average price of petrol drop below 140p in the next week.”
“While diesel isn’t at similar low point – as it averaged of 6p less than its current 150.29p in August – it’s still down from last Christmas’ dizzying prices of around 175p a litre,” he said.
In summer 2022, petrol peaked at a record of 191.5p (3 July) and diesel at 199.09p (25 June).
The wholesale price of oil has fallen recently due to a drop in demand, despite efforts by Opec+ – an organisation of oil producing countries – to reduce production and raise prices.
The price of the benchmark Brent crude oil finished at $76.55 a barrel, down 6 cents.
The fall could herald even cheaper prices at the pumps in the New Year if retailers pass on the full benefits to drivers.
Falling wholesale prices will also help ease inflationary pressure in UK.
