Drivers advised to wait until April for fuel purchases

Motorists have been advised not to fill up their cars until April, as experts predict a drop in petrol and diesel prices. The RAC reports that prices have risen for five straight months. Currently, petrol costs about 139p per litre, while diesel is around 146p. Simon Williams, the RAC's head of policy, mentioned that the cost of oil is declining, which should lead to lower fuel prices soon. He indicated that retailers could start lowering prices in the coming days as they purchase new supplies at these lower rates. If crude oil stays around $70 per barrel, petrol prices could drop to about 130p per litre. The price of petrol and diesel is closely linked to crude oil prices, which fluctuate due to supply, demand, and geopolitical events. After peaking at $82 per barrel in January 2025, prices have recently fallen to about $69 per barrel. While savings may not be substantial for each fill-up, a reduction in fuel costs is likely in the weeks ahead. Williams cautioned fuel retailers to ensure that they pass on these savings to consumers rather than increasing their profits during this period. He emphasized that it is crucial for retailers to reflect the drop in oil prices at the pumps, hoping that the usual trend of prices rising quickly while falling slowly does not apply this time.