Oil prices slip $14.87 a barrel - what it means for UK fuel prices

Brent crude has slipped from $128.30 to $113.43 a barrel over the past week (as of 30 October).

Why the pump does not move overnight

Oil is the largest component of the pre-tax pump price, but wholesale costs reach petrol stations with a lag of roughly two to four weeks as retailers work through bought stock. Our fuel price trends page charts UK pump prices against Brent back to 2020, and the relationship is consistent: the barrel leads, the pump follows.

Where UK prices stand

The UK average for petrol is 171.9p a litre and diesel averages 198.6p, across 8,123 stations. At those averages a 55-litre fill costs about £94.54 with petrol and £109.22 with diesel.

The rise-and-fall is not symmetrical either: our pass-through research finds a 10% rise in crude is typically followed by a larger pump increase than the saving a 10% fall eventually delivers - the full analysis sits with the trends data behind the weekly index.

When wholesale moves this far, the shop-around gap is where the money is: our regional fuel affordability research shows tens of pence a litre between the cheapest and dearest places to buy, so comparing prices near you beats waiting for the barrel to pass through.

About these figures: FindPetrol collects pump prices from UK petrol stations under the CMA's open fuel price scheme and publishes weekly national and regional averages. Journalists are welcome to quote these figures with a link to findpetrol.co.uk.