The prices of both unleaded petrol and diesel at UK forecourts are now falling more quickly than at any other point in 2024 so far, with both fuels now nearly 7p cheaper than a month ago, RAC Fuel Watch analysis shows.
As of Thursday 19 September, a litre of unleaded is being sold for 136.15p on average – down 5p since the start of September (141.26p) and almost 7p lower than a month ago (142.86p), saving nearly £4 for a complete fill-up while for diesel, the drop is similar with average prices down 5p since the start of the month (145.99p) to 140.87p, and nearly 7p lower than a month ago (147.74p) and this means that petrol and diesel are now at their cheapest prices in almost three years.
Volkswagen, Ford, Toyota and Renault dealers may be open to cutting prices over the next few days as they press on with hybrid and pure electric model sales in the light of hefty Tesla discounts for the new registration plate this month.
Car makers have seen a dramatic slowdown in EV registrations which they must attain to avoid huge fines for every non-electric car registered outside a 22% limit of sales for 2024 and the first six months have been disappointing so Autocar suggests a 10% ticket price cut is not unrealistic.
A new survey from Motorpoint has revealed how the cost-of-living crisis continues to impact consumer behaviour when it comes to buying and financing their next car.
As part of the research, Motorpoint polled over 2,000 UK car owners, who had taken out car finance in the last four years, to understand the extent to which current financial pressures would impact their car buying preferences and over half of motorists (53%) stated that the cost-of-living crisis had made them more mindful of how much they were spending on their cars.
