The price of a tank of petrol could be £10 cheaper by the end of July as motorists and businesses finally get some respite from soaring costs.
The AA motoring group says that average pump prices are now 188.76p per litre for petrol and 196.96p per litre for diesel, down from 191.53p for petrol and 199.07p for diesel at the the start of June.
Fuel prices have soared in recent months, driven by the war in Ukraine and moves to reduce Europe's dependence on Russian oil.
With food and energy bills also surging, many households are under pressure.
Wholesale petrol peaked above £1 per litre at the start of June, but dropped to below 80p per litre for much of last week, according to the BBC.
Wholesale prices have fallen as the price of oil has dropped back. Fears of a recession in the US have hit demand for oil, and the price of Brent crude - the international benchmark for oil - fell below $95 a barrel last week for the first time since Russia's invasion of Ukraine.
Luke Bosdet, the AA's fuel price spokesman, said: "Wholesale petrol's trajectory, if sustained, would lead to savings of a tenner off a tank from the record highs, providing the fuel trade is prepared to pass them on."
"The problem is that, in many places, the price cuts are quite simply not happening despite more than six weeks of falling costs," he added.
Earlier this month, the UK's competition watchdog said it would investigate petrol and diesel pricing after it found "cause for concern in some parts" of the industry.
The Competition and Markets Authority said it had discovered a sharp rise in prices once fuel had been processed by oil refineries.
It also found "significant differences in price" between forecourts in "many rural and urban areas".
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