After months of high fuel prices, Cornish residents may be beginning to see things drop, as prices for diesel look set to drop by 7p a litre.

As prices of fuel begin to come down, some areas of Cornwall are already seeing the benefit, with Launceston residents being offered both petrol and diesel for the same price, 144.9p as of this morning (June 2). 

This drop in price will be welcomed by many drivers in the area, as over the last few years we have seen prices skyrocket at the pumps. Between December 2020 and July 2022, the RAC report an average increase in diesel prices from 111.88p per litre, to a high of 199.07p per litre. 

Despite cheer that prices are falling, many will be asking why? 

The RAC report that since the Competition and Markets Authority (CMA) issued its road fuel market study update back saying average supermarket margins in 2022 had increased compared to 2019, back in May, the average price of a litre of diesel at supermarkets fell by 7.44p, from 151.02p to 143.58p.

This study seems to have prompted the four ‘big’ supermarkets to drop their prices for diesel at the pump, however, drivers will be keeping their fingers crossed that costs continue to fall.