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21st Aug 2015

Great news for drivers about the price of fuel…

Cue wild celebrations...

Ben Kenyon

You might as well get the beers in now gentlemen, because you’re going to have a load of spare cash sloshing about in your pockets.

Okay, maybe we’ve gone overboard a little – but drivers are all going to be a bit better off thanks to falling oil prices.

Supermarkets are set to slash unleaded petrol prices by a whole 2p this weekend and experts predict the price could easily drop below £1 a litre if the value of oil keeps plummeting.

Rod Dennis, from the RAC, told ITV: “The reason we’ve been slower to see unleaded price cuts is because the wholesale price of petrol – the price retailers buy the fuel for – has not fallen at the same rate diesel has.

“Diesel has been on a steady downward path since the start of May, driven by increased capacity from Asia, but the same cannot be said for petrol.

“If the conditions stay right, we could see some even lower prices in a few weeks as people return to work after the summer and the school run begins again.

“And if Brent Crude were to move to the 40 US dollar per barrel mark, the prospect of some enterprising retailers selling fuel for £1 per litre will make a return.”

It’s about time prices started moving in the opposite direction.