Petrol for a £1

Dreaming of a white Christmas? While we can’t guarantee snow this year, we can bring you good news…petrol is very likely to fall to £1 per litre at the pumps, or even lower, according to the RAC.

The average petrol price is currently sitting at £1.07 per litre, but some supermarkets (Morrisons, Sainsbury’s and Tesco) are already slashing prices to £1.03 per litre.

According to RAC figures, the last time petrol fell below the £1 mark was in the summer of 2009. The drop in pump prices has been caused by a decline in wholesale price of crude oil, which has dropped from $51.34 a barrel to $44.18 a barrel, Brits are also helped by the current strength of the pound against the dollar. Typically it takes around two weeks for any drops in price to reach motorists at the pumps, as the drop works its way through the system.

Curious to know how much you’re paying compared to other parts of the country? The BBC has launched a great online comparison tool that enables you to do just that.

However, if you’re looking for top tips on fuel economy then you can also check out our Eco Driving Tips

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