Fuel costs expected to fall further

Fuel costs expected to fall further

Drivers could soon be paying less than £1 a litre for petrol because of plummeting oil prices, according to the RAC.

The last time petrol was that cheap was in May 2009.

The typical price on forecourts is now 116.9p a litre, some 14p less than petrol was costing drivers at the start of 2014.

Analysts are predicting that petrol prices will continue to fall in line with decreases in the price of Brent crude oil.

At the moment, oil barrels are going for under 60 dollars, the lowest amount since June 2009.

Falling petrol prices offer good news for people struggling to afford the costs of motoring.

The RAC says that if oil price savings are passed on to motorists, petrol could be available for less than £1 a litre early next year.

Supermarkets have led the way in recent weeks when it comes to reducing fuel prices, with another round of cuts expected soon.

Copyright Press Association 2014