Petrol and diesel prices edge down despite oil above $105

Pump prices have drifted slightly lower over the past week, even though crude oil has not given drivers much help. FuelWise's figures from the Government's Fuel Finder scheme show the average price of E10 unleaded at 174.3p a litre today, down 0.5p in seven days. Standard diesel averages 199.3p, down 0.7p over the same period.

These are small moves after months of steep rises, and they come while oil is still above $105 a barrel. Here is what is happening and where the cheaper fuel is.

What changed this week

More forecourts are cutting prices than raising them. In the past seven days FuelWise recorded 11,578 price changes across 5,396 forecourts: 7,692 were cuts and 3,886 were rises, so about two in every three changes were reductions. In the last 24 hours alone there were 1,192 cuts against 270 rises.

The averages for today are:

• E10 unleaded: 174.3p (down 0.1p on the day, 0.5p on the week), across 7,602 forecourts
• Standard diesel: 199.3p (unchanged on the day, down 0.7p on the week), across 7,848 forecourts
• Super unleaded (E5): 191.9p (down 0.6p on the week)
• Premium diesel: 218.6p (down 0.1p on the week)

FuelWise's latest weekly Price Pulse found petrol rose 0.1p and diesel fell 0.1p in the week to 11 October, so this week's falls are a modest change of direction rather than the continuation of a trend.

Why prices are still so high

The backdrop is the US/Iran conflict and the disruption to shipping through the Strait of Hormuz. According to the RAC, the average UK diesel price reached a record 199.18p on 28 September, beating the previous high of 199.09p set in June 2022, and then topped £2 a litre for the first time on 2 October at 200.01p.

By 9 October the RAC said diesel had dipped back below £2, at 199.90p, with petrol at 174.79p. Even so, it put diesel about 57p a litre higher than before the conflict and petrol about 42p higher. On 28 February, before prices took off, the RAC's figures were 132.83p for petrol and 142.38p for diesel.

Oil markets have not eased much. Brent crude traded above $105 a barrel on Friday and was on course for a weekly gain, according to Trading Economics, amid attacks on shipping in the Strait of Hormuz. Euronews reported on 14 October that oil prices rose after reports that Iran had attacked ships there.

That matters for how long any relief at the pumps lasts. The RAC's view is that only a sustained lower oil price, over several weeks rather than days, will bring cheaper fuel. With crude holding at these levels, this week's small cuts should not be read as the start of a big fall.

Fuel duty and the Budget

There is also a tax question coming. The RAC says that without Government action, 3p a litre in fuel duty will be added on 1 January and another 2p on 1 March, as the current fuel duty cut is reversed. It has called for the cut to be extended or VAT on fuel reduced, and says drivers will be watching this month's Budget for relief. Until the Chancellor sets out the plans, those increases remain the default.

Where fuel is cheapest

The gap between the cheapest and dearest places to fill up is far bigger than this week's price movements, so where you buy matters more than when.

Supermarkets. Supermarket forecourts average 171.7p for E10 and 196.5p for diesel, against 175p and 200.1p at other forecourts. That is about 3.3p a litre less for petrol and 3.6p less for diesel, or roughly £2 on a 55-litre tank. Among the big brands, Sainsbury's has the lowest averages today at 171.3p for E10 and 195.9p for diesel, with Asda at 172p and 196.7p and Tesco at 172.2p and 196.7p. See how every brand compares on our brands page.

Avoid motorways if you can. Motorway services average 191.4p for E10 and 214.7p for diesel, about 17.1p and 15.4p above the UK averages. Filling a 55-litre tank with diesel at the motorway average rather than the supermarket average costs about £10 more.

Northern Ireland remains cheapest. Its averages are 166.8p for E10 and 191.7p for diesel, about 7.5p and 7.6p below the UK figures. All five of the cheapest council areas for unleaded are there, led by Ards and North Down at 165.9p and Belfast at 166.1p. Diesel in Northern Ireland also fell 1p over the week, the biggest regional drop.

In Great Britain, the North East has the lowest E10 average at 172.7p, and saw the biggest weekly petrol fall of any region at 1p. Yorkshire and the Humber follows at 173.2p. The South East has the highest regional averages for both fuels, at 176p for E10 and 200.7p for diesel.

The dearest council areas for unleaded today are West Berkshire at 182p, Uttlesford at 181.7p and Tandridge at 181.4p, around 16p a litre more than the cheapest parts of Northern Ireland.

What drivers can do

• Check before you set off. With thousands of forecourts changing prices each day, the cheapest station near you may not be the one you usually use. Our live price map shows current prices from every forecourt in the Fuel Finder scheme.
• Think about whether you need E5. Super unleaded averages 191.9p, about 17.6p more than E10. If your car's handbook says E10 is suitable, the saving on a full tank is substantial.
• Diesel drivers have most to gain from shopping around. The spread between supermarket and motorway diesel is the widest of any fuel. Compare local prices on our diesel prices page, or see petrol prices for unleaded.
• Fill up before a motorway journey rather than at the services.

Prices are moving down slightly for now. But with oil above $105 and duty rises due in the new year unless the Budget changes them, the RAC's point stands: a lasting fall at the pumps needs oil prices to come down and stay down.