Cash-strapped motorists will go on a Christmas break this festive season relieved about their spending as fuel prices could see minor below-inflation fuel price increases in the beginning of 2024 after declining further in December.
Fuel prices have been among the largest drivers of consumer price inflation over the past 24 months, alongside food and electricity costs, accelerated by Russia’s invasion of Ukraine.
Petrol is 22% more expensive than two years ago, and diesel 41%.