Diesel prices expected to drop; refuel later

A motoring expert advises diesel drivers to hold off on refueling their cars until April. This comes as the wholesale price of oil is expected to decrease further in the coming weeks. In February 2025, diesel and petrol prices rose for the fifth straight month. Many drivers paid up to £80 to fill their tanks. However, Simon Williams from the RAC points out that falling wholesale oil prices are likely to lead to lower fuel costs at gas stations soon. Williams explained that drivers have faced rising fuel prices for months, so it is encouraging that wholesale costs have dropped significantly. He anticipates retailers will start lowering prices this week as they get new supplies at these lower rates. Currently, the average price for petrol is about 139p per litre, while diesel costs about 146p. For example, filling a 55-litre diesel tank costs around £80.33, which is about £3.50 more than it was in October 2024. The price of oil has decreased from $82 per barrel in January to $69 in mid-March. Oil prices are influenced by many factors, including supply, demand, and global events. In the past, prices have fluctuated wildly, such as during the financial crisis in 2008. While wholesale oil prices are unlikely to fall dramatically soon, the RAC urges gas station operators to keep fuel prices competitive and avoid overcharging.