Petrol prices fall as millions of car trips expected over bank holiday
More than 17 million leisure trips by car will be made across the UK between Friday and bank holiday Monday
Drivers gearing up for the bank holiday weekend have received a welcome boost as petrol prices fall to their lowest point in almost four years.
The RAC confirmed on Thursday that the average price of a litre of petrol now stands at 134.06p, a figure not seen since July 2021 when it dipped to 133.9p.
Despite this positive trend, the RAC expressed disappointment that the decrease hasn't been more substantial, given recent reductions in oil prices.
Their analysis suggests that wholesale costs currently paid by retailers point to a potential 4p per litre undervaluing for both petrol and diesel.
This discrepancy means drivers could be paying around 130p for petrol and 136p for diesel, if prices accurately reflected the current market conditions.
RAC head of policy Simon Williams said: “Drivers will be relieved to know that petrol is at its cheapest point in four years.
“During that time, we’ve had the pain of record prices with petrol averaging 191.5p (and diesel almost £2 a litre) so some better news at the pumps is very welcome.
“Now, due to global factors, oil is trading below 65 US dollars, which means the price of both petrol and diesel should fall lower still.
“Retailers ought to be reducing their prices on a daily basis to reflect the fact they’re paying less for new supply.
“Perhaps there might even be an announcement about a hefty price cut from one of the biggest retailers.”
The RAC is estimating that more than 17 million leisure trips by car will be made across the UK between Friday and bank holiday Monday.
That is one million more than it expected, ahead of the early May bank holiday period, last weekend.
Transport analytics company Inrix predicted that the worst traffic on Friday is likely to be later in the afternoon and the early evening.
The M5 southbound from Junction 15 for Bristol to Junction 23 for Bridgwater is expected to see delays of up to 40 minutes from 7pm.
Journeys on the M25 clockwise from the South Mimms interchange to Essex are expected to be delayed for a similar duration from 4pm, as commuter traffic will compete for road space with leisure trips.
Drivers embarking on journeys on Friday are advised to set off before 10am.
Those travelling on Saturday, Sunday or Monday should leave either before 11am or after 3pm, the RAC and Inrix said.
Thousands of people will suffer disruption to train journeys as Network Rail will carry out more than 630 engineering projects over the two bank holiday periods in May.
The most significant impact for the first bank holiday will be at London Euston.
No trains will run between there and Milton Keynes on Sunday or Monday because of embankment repairs, track renewal and drainage works.
No Southeastern trains will serve London Victoria on Saturday or Sunday, with services diverted via London Bridge or London Cannon Street.
There will be no services between Cambridge and Audley End between Saturday and Monday.
Brian Paynter, Network Rail’s capital delivery head of track, said: “There’s a lot of great work happening over the early May bank holiday to improve the reliability and safety of the railway for passengers and freight.
“We know some of this will be disruptive, but bank holidays remain the least busy time for carrying out complex upgrades.
“I’d like to encourage people to plan ahead at www.nationalrail.co.uk/spring and recommend to those planning journeys to or from London Euston, to travel either side of the early May bank holiday weekend for the most straightforward journey.”