The data shows that unleaded petrol prices continue to slide slowly down to an average of 163.26 pence per litre. The RAC forecasts that the price of unleaded gasoline and super will not change substantially in the coming days, a welcome break for some drivers.
Diesel drivers are facing tough times though, as diesel costs are likely to continue to rise, with the latest averages showing prices around 185.49 pence per litre.
As a result, experts are warning drivers to be selective about where to refuel to help keep their costs down.
Highway service stations will often have much higher costs for gasoline and diesel because they don’t sell the quantities that supermarkets do and, as a result, don’t get the same discounts.
These areas must also take into account a number of other factors, including parking and amenities such as restrooms and showers.
READ MORE: RAC issues warning about car feature destroying fuel economy
New research has found that filling up a car is £36.30 more expensive than it should be compared to the rate of inflation.
When petrol and diesel prices peaked at the end of June 2022, they hit £1.91 per liter for unleaded petrol and £1.99 per liter for diesel.
That’s an increase of 209 percent and 219 percent respectively since 1997.
In 1997, fuel prices were fairly even, with unleaded petrol costing around 61.82 pence per liter on average and diesel only a fraction more, 62.47 pence per litre.
If those prices had risen in line with inflation over the last 25 years (3.03 per cent), unleaded petrol would cost around £1.30 per liter and diesel would cost £1.31.
Car prices have also increased dramatically, by 821 percent in less than 50 years.
At the time of its launch, a Ford Fiesta was valued at £1,856, while drivers will now pay £17,905 for the latest model.
Based on average inflation of 5.03 per cent per year between 1976 and 2022, a new Fiesta could set you back £15,422.
This means motorists are paying £1,672 more than inflation level prices, although advances in car technology and infotainment may make up the difference in price.
You might be interested in exploring fuel efficiency techniques to save money on gas. Speaking of fuel savings tips, you might find it helpful to check out the Fuel Efficiency article on Wikipedia. Another related topic worth exploring is the impact of rising fuel prices. To learn more about this, you can refer to the Effects of Fuel Price Increases article on Wikipedia.
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