Diesel sees biggest monthly price drop in June since 2000

Diesel has experienced its biggest monthly drop since the year 2000 as prices fell by 17p a litre in June.

Analysis by the RAC found that at the start of June, a litre of diesel averaged 183.75p but, by the end of the month, it had plummeted by 16.6p to 167.14p, exceeding the previous biggest drop by nearly 5p.

The average price of a litre of petrol has also fallen by close to 8p a litre in June, falling back from 159.37p to 151.40p. It now means that the cost to fill a typical 55-litre car with petrol is £83.27, down £4.40 a tank from the start of the month.

The savings for diesel are even greater, however, with a full tank now costing £9 less than at the start of the month. A full tank of diesel for an average car now costs £91.93, down from £101.06.

It comes as the cost of a barrel of oil slid from $94.98 at the start of June to $72.92 at the end of the month following a deal between the US and Iran to end the conflict.

RAC head of policy Simon Williams said: “June has been a far better month for drivers on the back of the announcement of a deal between the US and Iran to end the conflict. The price of oil has fallen dramatically and prices at the pumps have reflected that.

“While diesel dropping 17p in a month is very positive, it’s also important to realise that its average price shot up 49p a litre from the end of February to 191.54p on 15 April, which equates to a rise of more than a penny a day. So, the cost of the fuel today remains far higher than it was at the start of the war.”

The price of motorway fuel also came down by close to 8p for unleaded, though diesel’s drop wasn’t as extreme here as with other retailers, falling by 14p from 201.07p a litre to 187.24p.