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StatementsFuel prices

RAC reacts to Opec's decision to continue pumping near-record volumes of oil

RAC Fuel Watch spokesman Simon Williams said: “There was a good deal of trepidation regarding the meeting of the OPEC nations today and the market reacted with some volatility pushing the oil price up as traders expected they may cut production.

"However, after the meeting concluded at 3pm with no cuts planned the market settled and the oil price dropped back down ending slightly lower than yesterday’s barrel price at $41.50 for Brent crude.

"We therefore expect the trend to continue and anticipate that we are likely to see a further fuel price cut of two pence a litre for fuel in the next fortnight.”

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The RAC Media Centre provides journalists and news outlets with the latest motoring-related news, comment, data and research.

The RAC is an iconic British driving services brand and has been championing drivers since 1897. Today it is one of the UK’s most trusted names, providing complete peace of mind ® to over 15 million drivers across breakdown cover, insurance, and mobile servicing and repairs.

Its nationwide patrol force attends more than two million breakdowns every year, while its position as the UK’s leading independent insurance broker helps motorists find the right cover with confidence. The RAC has also reshaped the service, maintenance and repair market with its Mobile Mechanics, who carry out servicing and repairs at drivers’ homes or workplaces.

Committed to innovation, the RAC is fully electric ready with mobile EV charging technology for stranded drivers, and a suite of digital and data‑led solutions that make motoring easier and more affordable for consumers and fleets. These services come together in myRAC – the all‑in‑one app for vehicle maintenance, cheaper fuel finding and breakdown assistance.

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