Petrol vs diesel cars: which is the better choice?
Fuel prices have experienced significant fluctuations in recent years. After the peaks reached in 2022, prices showed a downward trend during 2023, although with ups and downs. By mid-2024, the average price of unleaded petrol in the UK was around 145p per litre, while diesel stood at approximately 150p per litre.
Various factors affect the price of fuel in the UK:
On 1 January 2021, a litre of unleaded petrol cost an average of 119.5p. A year later, at the start of 2022, it cost 148p — an increase of 24%. During the first week of June 2022, with a litre at 191p, the increase in just 5 months was nearly 29%. This meant that filling an average 50-litre tank was significantly more expensive than 17 months earlier.
The rise in oil prices was driven by Russia being the third largest producer in the world, with the conflict in Ukraine contributing to the escalation. This was compounded by low OPEC production levels and increased demand following the easing of pandemic mobility restrictions.
The medium to long-term solution involves producing countries deciding to significantly increase crude oil supply and Europe reducing its dependence on certain raw materials. Another option at a national level is for the government to apply fewer tax charges on fuel.
Here is a chart showing how petrol and diesel prices have evolved over recent years.
If you drive a lot, we recommend reading our tips for saving on fuel and choosing the right fuel type, as well as using the tool above to find the cheapest petrol stations near you.
Data sources: UK Gov DESNZ Weekly Road Fuel Prices, UK Fuel Finder Service, retailer price feeds.