The AA has cautioned drivers that there remains 'some way to go' before fuel prices at the pump reflect the recent decline in oil costs to levels seen before the Iran conflict. According to the motoring organisation, the average price of a litre of petrol across UK forecourts currently stands at 152.9p, while diesel averages 170.5p.
These figures represent a notable drop from the war-time peaks recorded on April 16, when petrol hit 159.7p per litre and diesel soared to 192.4p. However, despite this relief, petrol remains approximately 20p more expensive than it was prior to the outbreak of hostilities, and diesel is about 28p higher.
Oil prices fall below pre-war threshold
The cost of crude oil, a primary determinant of fuel pricing, has fallen below 73 US dollars per barrel for the first time since the Iran war began on February 28. This decline coincides with an increase in tanker traffic through the Strait of Hormuz, which is gradually reopening following the US-Iran peace deal.
AA president Edmund King acknowledged the positive trend but stressed the gap still to be closed. 'While drivers have been pleasantly surprised by the speed of price falls at the pump, there is some way to go before prices return to where they were before the outbreak of the war,' he said.
Uncertainty over future price direction
Mr King also expressed concern that some motorists may fear 'prices could go the other way' due to lingering 'uncertainty' over the future actions of both Iran and the United States. He added: 'The hope is that pump prices continue to tumble with the summer getaway late in July now coming into view.'
The AA's warning highlights the delicate balance between geopolitical stability and consumer costs, as the UK heads into the peak summer driving season.
