fuel

Petrol prices set to fall below £1 per litre

The RAC has announced that there is a big chance that petrol prices will fall below £1 for the first time in 6 years. This comes after a recent drop in wholesale fuel prices which could pass on a 2p per litre saving to consumers.

Since 2009 the price of petrol has been above £1 per litre and it actually rose to record prices of £1.41 in April 2012. The price of petrol is something which affects consumers and businesses throughout the country, with fuel being such a big expense in everyone’s budget.

Wondering why diesel is now cheaper than petrol? Here’s why

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You would have noticed over the past two months that the price of diesel has slowly crept lower than that of petrol. Prices of both diesel and petrol have been falling since the price of oil crashed in the back end of 2014. Supermarkets have been very aggressive with their price cuts and this month have slashed diesel prices by 5p per litre, with the average cost of a litre of diesel now sitting at 112 pence.