Five cheapest places to buy petrol in Nottingham tonight

High prices at the pumps mean it’s becoming ever more important to see where is offering the best prices. Nottinghamshire Live looked at for the five cheapest places to buy fuel in Nottingham today.

Oil prices surged immediately after Russia’s invasion of Ukraine but declined earlier this month, leading to a cut in wholesale costs for fuel retailers. The wholesale cost of oil makes up 33% of the price you pay at the pump with the cost of ethanol – which is used to ‘dilute the fuel’ adding another 7%. The oil company delivering the fuel takes 1% – meaning the retailer makes around 8% profit on every litre sold – with the rest going in fuel duty and VAT.

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Some 41% of those polled by the RAC said they are driving less due to the cost of filling up, while 25% said they are being forced to cut spending on other items because of pump prices. It’s having a huge effect in Nottingham and around the country.

Here are the five cheapest places listed on tonight

1. Texaco Meadow Lane 159.9p

2. Morrisons Gamston 160.7p

3. Morrisons Bulwell 162.7p

4. Texaco Westdale Lane East 162.9p

5. Tesco Beeston 162.9p

At the other end of the price list, M1 Trowell was listed at 186.9p per litre of petrol.

Following the announcement by the Chancellor of the Exchequer that fuel duty will be cut by 5p, Asda confirmed it will pass the reduction in fuel duty announced in today’s Spring Statement straight on to its customers. The supermarket will reduce the price at the pumps by 6p per litre which includes a 1p reduction in VAT. The new prices will be implemented from this evening – with Rishi Sunak saying the duty cut comes at 6pm.