UK petrol prices have dipped below £1.50 per litre for the first time since Russia invaded Ukraine, though the AA has warned that variations across different margins are marked.
On average, a price of a litre of four-star is 149.74p compared to 191.7p in July and it has not been this low since 24 February when Russia launched its attack on Ukraine.
AA fuel price spokesman Luke Bosdet said the reduction was a "huge relief" for drivers and had cut the cost of filling the typical car tank by £23.
However, he pointed out that by historical standards, the price is still very high and way above the previous ‘high point’ marker of 142.8p in April 2012.
Bosdet also reiterated the AA’s criticism of large fuel retailers such as supermarkets for not bringing prices down in line with wholesale prices and charging more in urban areas.
“Indicative of the chaos of UK pump pricing and the rampant exploitation of drivers by many fuel retailers, the AA spotted supermarket and non-supermarket retailers yesterday charging less than 140p a litre in South Wales and Northern Ireland.
"How fuel stations in areas of big populations and high volume sales can charge well over 10p more for fuel than in largely rural parts of the UK is a question that the Competition and Markets Authority will have to address," he said.
Diesel prices have also not fallen as fast as petrol, added Bosdet, with the average now at 172.21p a litre against 199.07p in July.