Experts have suggested that petrol and diesel drivers could soon see a significant drop in fuel prices despite concerns around tensions in the Middle East.
New data from RAC Fuel Watch show that average prices are falling by 0.04p daily for unleaded and 0.09p for diesel, leading to some optimism for the coming days and weeks.
At present, drivers are paying an average of 157.66p per litre for petrol and 190.48p for diesel at the pumps.
While these prices are still dramatically higher than at the start of the war with Iran at the end of February, some experts are optimistic.
Around seven weeks ago, average costs stood at 132p and 142p for petrol and diesel respectively, before the Middle East crisis caused a spike in oil costs, with a barrel nearing $120 (£88.79).
The RAC states that at its peak, motorists were forking out 158.31p for petrol and 191.54p for diesel - the highest prices in more than three years.
Simon Williams, head of policy at the RAC, acknowledged that pump prices had fallen slightly over the weekend.
He said: "Petrol has now reduced by more than half a penny (0.65p) since it peaked last Wednesday (15 April) and diesel by a penny (1.06p).
Experts have suggested that fuel prices could fall further in the coming days and weeks
|GETTY
"The RAC's analysis of wholesale data shows that the drop ought to accelerate this week as more retailers buy in new supply at lower costs."
If fuel prices continue to fall over the coming days and weeks, drivers could benefit from substantial savings.
However, it could take longer for prices to drop to levels seen at the start of the Middle East conflict on February 28, especially as tensions remain hostile.
Reports suggest that the United States is pushing for peace talks with Iran, although leaders in Tehran have rejected any claims of a second round of negotiations.
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Petrol and diesel prices recently soared to their highest price in more than three years
| PAIranian forces threatened and fired at ships in the Strait of Hormuz over the weekend after it performed a U-turn on opening the crucial shipping route after accusing the US of going back on the initial ceasefire deal.
Posting on social media site Truth Social, President Donald Trump confirmed that representatives from the US would travel to Islamabad, Pakistan, for a second round of talks.
He added that the US was offering a "very fair and reasonable" deal, noting that there would be "no more Mr Nice Guy".
"I hope they take it because, if they don't, the United States is going to knock out every single Power Plant, and every single Bridge, in Iran," President Trump wrote.
President Donald Trump has threatened to strike Iran's key infrastructure if it does not reach a second ceasefire agreement
|REUTERS
Most expensive petrol prices
Chatham Road Service Station, Maidstone, Kent (ME14 2ND) - 193.9p
Warners Murco Service Station, Upton-upon-Severn, Worcestershire (WR8 0HU) - 189.9p
S R Services, Grays, Essex (RM20 3JT) - 185.9p
Michaelwood North and South SFC MWSA, Dursley, Gloucestershire (GL11 6DD) - 184.9p
Winchester South and North Connect MWSA, Winchester, Hampshire (SO21 1PP) - 184.9p
Most expensive diesel prices
Olivebank, Stronsay, Orkney (KW17 2AF) - 205p
Ashey Road Garage, Ryde, Isle of Wight (PO33 4BB) - 204.9p
Rownhams East and West MWSA, Southampton, Hampshire (SO16 8AP) - 203.9p
Michaelwood North and South SFC MWSA, Dursley, Gloucestershire (GL11 6DD) - 203.9p
Winchester North and South Connect MWSA, Winchester, Hampshire (SO21 1PP) - 203.9p