Petrol prices have fallen, putting them at the lowest that they have been for three years.
The RAC report that the average price of petrol is 135.7p – the cheapest price the UK has seen in three years and a big drop from the record breaking price of 191.5p per litre that was seen back in 2022.
In a statement, the RAC’s fuel spokesperson Simon Williams told the press, “To see pump prices drop to this level is really positive news, both for households who depend on their vehicles for getting about, and for the wider economy as there’s a clear link between the cost of fuel and the headline rate of inflation.
“A relatively low oil price, caused by lower demand globally, and a relatively strong pound are the two factors that are contributing to pump prices falling. Thankfully, we’re now a long way from the record high prices of July 2022, and we believe there is scope for pump prices to come down further in the next few weeks to reflect the lower wholesale costs retailers are paying when they buy fresh fuel stocks.”
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