Runner Up - Newtown Local Business of the Year 2024 (Third Sector)

NEWS

Petrol prices down in December

Local drivers in Newtown benefited from a significant drop in petrol prices last month, as data released by the RAC reveals.

8 months ago   2 minutes read   1,384 views

The image for Petrol prices down in December
 
Share       

Local drivers in Newtown benefited from a significant drop in petrol prices last month, as data released by the RAC reveals.

The average fuel price at UK forecourts decreased by 6p per litre from December 1 to December 31, marking the second consecutive monthly reduction.


  Other Trending Stories

According to the RAC, the average cost of petrol across the country fell from 146.7p to 140.6p, reaching a level last observed in early February 2022, before the surge in oil prices following Russia's invasion of Ukraine.

Even though the price of diesel experienced a similar downward trend across the UK, Newtown residents have witnessed fuel prices remaining relatively stable around the 147p mark. In Newtown, prices are currently:

Morrisons

Petrol: 130.7p

Diesel: 135.7p

Updated 19/09/2024 00:00:01

BP

Petrol: 131.9p

Diesel: 135.9p

Updated 19/09/2024 10:55:03

Tesco

Petrol: 130.9p

Diesel: 135.9p

Updated 19/09/2024 11:19:13

However, the RAC has called for further reductions in pump prices, highlighting that supermarket margins on fuel increased significantly. Last month, the average supermarket margin stood at 13p per litre, more than double the figure recorded in 2021. These findings suggest that there is room for petrol prices to decrease further in Newtown, aligning with the lowered wholesale oil costs.

RAC fuel spokesman Simon Williams said:

“It’s clearly good news that both petrol and diesel came down substantially in December.

“While we’re starting the year paying much less at the pumps than we have done, it’s still galling to know that drivers aren’t being charged a fair price in comparison to Northern Ireland where the very same petrol and diesel is at least 5p a litre cheaper.

“It’s surely impossible to argue that competition is working properly if prices are so vastly different in two parts of the UK.

“We continue to call on the biggest retailers to play fair with drivers and lower their prices to match what’s being charged in Northern Ireland.

“We also urge Energy Security Secretary Claire Coutinho, who is on a mission to bring greater transparency to fuel pricing following the Competition and Markets Authority’s investigation concluding drivers were overcharged to the tune of £900 million in 2022, to ask the supermarkets why they won’t charge similar prices to the averages seen across Northern Ireland.”

A Department for Energy Security and Net Zero spokesperson said:

“The drop in petrol prices in the run-up to Christmas was good news for many hardworking families driving hundreds of miles across the country.

“We want fuel prices to stay down for 2024 and beyond. That is why the Government is giving the competition watchdog tough new powers to oversee the market and make sure retailers pass on savings.

“This stance is working, and we will continue progressing plans for fuel retailers to share up-to-date price information that will help customers to easily shop around for deals.”

You've viewed 1 stories so far!

All About Newtown is an independent not-for-profit online news and information service for the town of Newtown in Mid Wales. We provide ad-free content, so rely on reader subscriptions and donations to run.

  Donate via PayPal

Advertisment

Related or similar stories based on this one

Local drivers are still being hit with high fuel prices

1 year ago

Newtown drivers hit by soaring fuel prices

11 months ago

The disparity in fuel pricing compared to other towns

5 months ago

Business of the Week
Maesydail Stores

Maesydail

Follow us

Connect with us on Facebook, X (formerly Twitter), Instagram and Google News

     

Trending
High Street closed for emergency works

1 day ago

Iconic property for sale on Canal Road

18 hours ago

Local security company to act as park rangers

2 days ago

Donate to us

We're a not-for-profit community interest company and have no corporate owners. We'd appreciate anything you can give to keep us providing free content.

  Donate via PayPal
Upcoming Events
NFS Foodshare

20/09/24 10:30am

Walking Men of Mid Wales - Sep 2024

20/09/24 07:00pm

Fortnightly Bingo

20/09/24 07:30pm

Latest Stories
The upcoming forecast in Newtown

12 hours ago

Wales not on course to hit key target

14 hours ago

Iconic property for sale on Canal Road

18 hours ago