Petrol prices drop to 4 year low

Petrol prices drop to 4 year low

A leading supermarket is this weekend promising drivers the cheapest petrol in over four years.

Motorists heading to their local Asda forecourt on Saturday will be able to buy petrol for 2p a litre cheaper, at 112.7p.

The supermarket chain is also dropping its diesel prices by 1p per litre to 118.7p.

RAC fuel spokesman Simon Williams said: "Pump prices are really beginning to tumble in line with the fall in oil prices which will make visiting friends and family far cheaper this Christmas than last year.

"This latest round of cuts, which will no doubt be reflected by other retailers, should have a very healthy downward effect on the average petrol price of 119.10p."

Plummeting global oil prices have helped to facilitate these low petrol pump prices which were last seen in October 2010.

It continues the trend of recent price falls in recent weeks, some of them coming in the past few days. Asda's petrol will have dropped 14p per litre since September 28 when Saturday's reductions come into force.

Simon Williams added: "With oil is now at the July 2009 price of $63 a barrel and the pound still maintaining a steady $1.5 dollars there is a real sense average petrol prices could come down as low as 110p a litre, with diesel possibly dropping below 118p.

"If fuel drops this low motorists will be saving £11 on filling up an average 55-litre family car compared to the start of the year."

Copyright Press Association 2014