Petrol pump

The average UK price for a litre of petrol has fallen below 150p for the first time since the outbreak of war in Ukraine.

The AA said that a litre of petrol typically cost 149.74p on Monday, the lowest price since Russia invaded Ukraine on 24 February 2022, when it averaged 149.67ppl.

Following the outbreak of the war wholesale prices surged with petrol on the forecourt reaching a record average of 191.53ppl.

Luke Bosdet, the AA’s spokesperson on pump prices, said: “A 41.8p-a-litre crash in the average pump price of petrol is a huge relief for drivers, cutting £22.99 from the cost of filling the typical car tank.”

Diesel now averages 172.21ppl, down from a record of 199.07ppl at the start of July.

However, prices are set to increase by 6ppl in March when the year-long fuel duty cut is due to end, adding 5ppl in duty and an extra 1ppl in VAT.