Price cuts create biggest ever fuel price gap

20th October 2008

(Aldershot, UK) The price war driving down the cost of fuel in the UK has created the biggest ever gap between the highest and lowest priced fuel, according to data from PetrolPrices.com.

The lowest priced unleaded, as a result of retailers slashing prices over the last week week, is 97.9p. However, the most expensive is 121.9p – a full 24p more. For diesel the spread is 23p. The cheapest diesel is now 109.9p, and the most expensive 132.9p. A ‘normal’ price gap is around 17-19p.

Petrol stations have been slashing prices recently as a result of a dramatic fall in oil prices. Last week was the first time the price of unleaded dropped below £1 a litre since December 2007.

However, smaller stations are typically unable to respond to falling oil prices as quickly as big chains, meaning that there is a bigger difference in prices than ever before. The previous record price gap of 20p and 22p for unleaded and diesel respectively was last set on August 12th.

The price gap over short distances has also increased. One example from PetrolPrices.com shows a 15p difference in unleaded over just 5 miles in Northampton. In London, the gap is 20p over just 2 miles. There are similar examples across the country.

A motorist shopping at the most expensive station in London would spend an extra £528* a year on fuel compared to a smart motorist who found the cheapest station in the area using PetrolPrices.com.

“It’s not often motorists hear good news about petrol prices, but fuel for less than £1 a litre certainly is that. However, not all stations are able to cut their prices as quickly because they bought fuel at a higher price.”

“There’s never been a more important time to shop around for fuel. When prices are falling the cheapest stations change every day, so drivers should shop around online to avoid getting caught out.”

~ Brendan McLoughlin, Founder, PetrolPrices.com.

You can see the comments from PetrolPrices.com users, and up to date results of our latest user poll here:

http://www.petrolprices.com/blog/petrol-drops-below-a-litre-103.html

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Notes to editors

Where possible, please link to PetrolPrices.com in online articles.

Prices are updated each weekday between 11am and 12pm. Prices are collected the previous day using fuel card transactions in petrol stations to gather an average price for each station.

Petrolprices.com is the only free fuel price comparison website with reliable data and regular updates. It allows consumers to search for the cheapest stations in their area, with potential savings of 20p a litre.

PetrolPrices.com has over 2.6 million registered users, and 87% of 5000 users surveyed in September 2007 claimed the site saves them over £100 per year. As fuel prices rise the potential savings grow because the spread between the lowest and highest prices stations widens.

PetrolPrices.com is one of 100 money-saving websites from www.Fubra.com. Check out our house price sites – www.OurProperty.co.uk and www.HousePriceCrash.co.uk.

If you would like fuel price data, including local info, please contact us.

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Louise Doherty
Spokesperson

PetrolPrices.com
e:
w: www.petrolprices.com
p: 01252 367208
m: 07525264999