Diesel is set to be cheaper than petrol on the forecourt according to a study by the RAC.
The fuel pump cut will the first time diesel has been cheaper than petrol in 14 years and with supermarkets already cutting prices, the motoring organisation expected a further cut of up to 4p per litre over the next two weeks as wholesale price remains below wholesale petrol thank to more refined product being available on the market.
Average diesel prices are now at 118.98p per litre, with unleaded standing at 117.24p per litre. The wholesale diesel has been lower than petrol since 27 May 2015, meaning there is a good prospect that the average price of diesel will soon go below petrol at the pumps.
RAC fuel spokesman Simon Williams said: “We are now well on the way to seeing a UK fuel price flip – where the average price of diesel is, quite rightly, cheaper than unleaded at the pumps. It will also mean that the millions of families setting off on their summer break won’t have to pay quite as much when filling up the car.
“RAC Fuel Watch records show diesel was last cheaper than petrol 15 years ago on 17 July 2001, so these price cuts are great news for the nation’s 10.7 million diesel car drivers.”