Diesel falls to lowest price in six years after oil hits $40.40 a barrel
The average cost of diesel hit 109.48p a litre on November 30
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Diesel has fallen to its lowest price in six years after the oil price dropped again, dragging down fuel prices.
The average cost of diesel hit 109.48p a litre on November 30 after it started the month at 109.77p.
The average price of petrol was also down for the fifth month in a row from 107.67p to 106.98p after hitting a nine-month low on 11 November at 106.92p, according to RAC Fuel Watch data.
A full tank of petrol is now £8 cheaper than it was this time last year, while Diesel is £9 cheaper for a tank, slashing the cost of long car journeys over Christmas.
“In the expensive run-up to Christmas, drivers of both petrol and diesel vehicles are benefitting from far cheaper fill-ups than they did at this time last year," said Simon Williams, RAC Fuel Watch spokesman.
Fuel is cheaper because the oil price continues to fall. A barrel of crude fell over $3 in November to a six-year low of $40.40, though the positive effect of this was mitigated by a weaker pound. Oil is traded in dollars, which makes it more expensive in the UK when the pound is weaker against the dollar.
Williams said the RAC expects a very slight average petrol price reduction in the next two weeks, with another 2p coming off diesel.
Falling prices have led to slightly higher petrol and diesel sales. HMRC oil duty statistics for October show combined sales of petrol and diesel were 1.9 per cent up on September at 3.905 billion litres and up 1.8 per cent on the previous October.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments