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

As fuel prices begin to lower, 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 last week.

This will be welcome new to many drivers, as over the last few years they 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.