Petrol prices drop in Sheffield as UK inflation rate falls
Fuel prices in Sheffield have been going down in recent months - helping to lower costs for local residents.
According to data from PetrolPrices.com shared with The Star, the average price of unleaded petrol in Sheffield dropped from an average of 151.7p per litre in February to 144.4p in March 2024. Prices then fell to a further 142.1p in April.
This drop in petrol prices is part of a wider trend across the UK, which has helped reduce inflation.
The UK's inflation rate dropped to 2.6 per cent for the 12 months ending in March, down from 2.8 per cent in February.
While fuel prices in Sheffield have dropped in recent months, they remain slightly higher than the national average, with the UK average for unleaded petrol at 137.5p per litre in March, compared to 144.4p in Sheffield.
Here’s a look at how petrol prices have changed in Sheffield over the past few months, according to PetrolPrices.com:
Petrol prices in Sheffield have seen fluctuations over the past few months, but after reaching high levels in February, they have recently started to decline.
Despite this drop, current prices remain higher than at the start of the year.
The reduction in fuel costs, along with falling prices for items like toys and games, has contributed to a slowdown in inflation. However, a rise in clothing prices in March has partially offset the overall decrease, preventing a sharper fall in inflation.
Experts caution that the current relief may be short-lived, as rising business costs and energy bills are expected to drive inflation back up in the coming months.
So while prices have eased somewhat, the financial pressure on households may soon increase again.
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