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Oil and Gas Industry News

Drivers in the UK have been warned to fill up their tanks ‘sooner rather than later’ after a 10-week price drop comes to an end.

Motorists were urged to head to forecourts after the price of a petrol litre fell last week, though it has since stabilised.

The average price of a litre of petrol at UK service stations dropped from 150.1p on April 24 to 144.5p at the end of last week, the AA said.

Diesel prices saw a similar trend, with the average price falling from 158.3p on April 24 to 149.6p.

Motoring groups previously hoped petrol prices would fall below the pre-Covid record high of 142.5p per litre on April 12, 2012 for just the second time since Russia’s invasion of Ukraine in February 2022.

But the AA said this will not happen in the short term because of the rebound in the price of a barrel of oil in the US.

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