RAC Report on Motoring 2016

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Average fuel cost pence/litre
120
110
100
90
August 2015 September 2015 October 2015 November 2015 December 2015 January 2016 February 2016
1.0 What’s on motorists’ minds?
1.1 The cost of motoring
Ongoing global economic uncertainty
coupled with oversupply from oil-
producing nations has led to much
lower oil prices and the cost of fuel
in the UK fell accordingly, reaching
low prices not seen for seven years.
At the start of 2016, the price of a
barrel of crude dipped below $30
– its lowest level for 12 years and
less than half of what it was just six
months earlier – and pump prices
in Britain followed3.
RAC Fuel Watch data shows that the
average price of a litre of unleaded
in January 2016 was just over 102p
while diesel was down to 101p – and
many forecourts were selling both
for less than £1 a litre. By way of
comparison, in June and July 2015,
petrol averaged more than 115p a
litre and diesel more than 120p4.
It is hardly surprising therefore
that the price of fuel has become
far less of a concern for UK road
users this year: just 7% of those
questioned say the price of filling
up is their top motoring concern,
down from 10% in 2015.
Less than a quarter – 24% – named
expenditure on fuel as one of their
four most pressing concerns in
2016, down slightly from the 26%
12 months ago.
3. RAC Fuel Watch
4. uk-wholesale-and-pump-fuel-prices-since-january-2015-42326
5.
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RAC Report on Motoring 2016