South East Sees Second Slowest Fuel Price Recovery
A new study has revealed that the South East has seen the second slowest fuel price recovery in the UK so far in 2023. Within the region West Sussex recovered quickest at a price decrease of 11.75%.
Moneyzine utilised data from UK fuel pricing data to uncover which UK region has been most successful in recovering their fuel prices across diesel, unleaded and super unleaded price per litre so far this year and has revealed that West Sussex has been most successful in recovering their fuel prices. Following a 20.47% surge in 2022 – the highest in the South East – the average price of fuel stood at a staggering183.80PPL. This has since decreased by a significant 11.75% to 162.32PPL as of May 2023.
Kent has seen the second largest decrease of average fuel prices with a 11.49% recovery on the region’s elevated 2022 average price. The region’s fuel prices reached 183.33PPL in the second half of 2022, almost a fifth (19.5%) higher than the start of the year.
Ranking third is Oxfordshire, with a 11.44% decrease in fuel prices this year. Rising to 184.52PPL in the later months of 2022 with a fuel price rise of 20.00%, average fuel prices have since dropped to 163.49PPL.
Surrey has had the slowest recovery of fuel prices – having left 2022 with an average of 183.75PPL, Surrey’s fuel prices have been the slowest to return to pre-surge levels, with a decrease of just 10.74%% so far this year.
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Tips to find the cheapest fuel
Jonathan Merry, Personal Finance Expert and CEO at Moneyzine.com offers his tips on finding the cheapest fuel:
- Fill up in off peak hours: Opting for weekdays or non-peak hours to fill up can often secure more favourable prices.
- Download fuel comparison apps: Downloading reliable apps and checking websites can provide real-time updates on fuel pricing in your area, allowing you to make informed decisions.
- Join a loyalty program: Consider joining fuel station loyalty programs, these often provide discounted rates and special promotions for cardholders.
- Keep an eye on fuel pricing in your area: Local prices are varying a lot at the moment, factors like competition, refinery proximity, and transportation costs can influence fuel prices significantly.
Image Rudy and Peter Skitterians from Pixabay
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