Fuel Costs Stabilize After 43-Day Surge, RAC Reports
After over a month of steady price hikes, the RAC says fuel prices may begin to drop in the coming weeks as global factors stabilize.
Fuel prices across the United Kingdom have finally stopped rising after 43 consecutive days of increases, according to the RAC, a prominent motoring organization. The group says that prices could start to come down over the next couple of weeks as global factors affecting the cost of petrol and diesel begin to stabilize.
The RAC's fuel price data shows that the average price of petrol reached 191.53 pence per liter on June 29, while diesel hit 199.03 pence per liter on the same day. These represented the highest prices ever recorded by the motoring group.
However, the RAC says prices at the pump have now plateaued, with the average cost of petrol dropping slightly to 191.01 pence per liter and diesel falling to 198.69 pence per liter as of July 2.
"This is the first time in 43 days that we've seen prices not increase," said RAC fuel spokesperson Simon Williams. "Wholesale prices appear to have stabilized, which is making retailers more confident about holding their prices.
Source: BBC News
