Petrol and diesel prices are still at a three-year low following the Budget where Chancellor Rachel Reeves confirmed that the rate of fuel duty would remain frozen.
According to the latest data from RAC Fuel Watch, a litre of petrol costs 135.2p per litre at the end of October, a rise of just a third of a penny compared to September.
Diesel drivers saw a similar jump at the pumps by two-thirds of a penny to 140.2p. For the average 55-litre family car, motorists will be looking at a total bill of just over £77.
Despite the relatively low price compared to previous years, diesel in the UK is still among the most expensive in Europe, having been so for 21 of the last 27 weeks.
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Petrol and diesel drivers hope to see low costs at the pumps
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The RAC report suggested that drivers could make further savings at the pump by visiting supermarket forecourts. They are generally 3p per litre cheaper, helping drivers save around £2 per tank.
This will come as welcome news for motorists, especially after the Chancellor's actions during the Autumn Budget last week.
Rachel Reeves announced that motorists would see the five pence per litre fuel duty freeze extended for another year, much to the surprise of Britons and industry experts.
RAC head of policy Simon Williams said: "Despite the price of oil briefly jumping up to around $80 (£62.01) a barrel in the early part of October due to increased tensions in the Middle East, prices at the pumps have fortunately remained stable at a three-year low.
"This is yet more good news for drivers following the Chancellor's extension of the 5p duty cut at her first Budget last week.
"But it’s also worth remembering that even now 55 per cent of the total price of a litre of fuel is tax in the form of fuel duty, and the VAT that is charged on top."
The Budget also outlined the future of the Government's price checker tool. The so-called Fuel Finder is expected to be rolled out before the end of next year.
Following recommendations from the Competition and Markets Authority (CMA), the Government said it hopes to implement Fuel Finder by the end of 2025.
It stated that the aim of the new tool was to encourage competition among major retailers and supermarkets and slash prices. Modelling suggests that drivers could save between one and six pence per litre.
Fuel price checking tools are already available in Northern Ireland thanks to the Consumer Council, with the latest data finding that motorists are paying an average of 130.4 for petrol and 134.1p for diesel.
Williams added: "The Government has also acknowledged, as the RAC has been advocating for some time, that 'this function will be crucial in providing ongoing scrutiny of prices and considering whether further action may be needed to protect consumers'.
"Also, by the end of 2025, the Government's 'Fuel Finder' scheme will come into force obliging every retailer to report their prices to a central database within 30 minutes of a change being made."
LATEST DEVELOPMENTS:
The new Fuel Finder price checker tool is expected to launch before the end of 2025
PAThe Consumer Council's Fuel Price Checker shows how Coleraine has the cheapest average petrol price at just 126.5p, as well as having the lowest cost for diesel at 130.5p.
Even in Magherafelt, where diesel prices are most expensive, they are still almost two pence per litre cheaper than the UK average.
A similar 2.3p saving can be seen in Newtownards compared to the UK average when buying petrol.
