Petrol prices fall under £1 in run-up to Christmas 0

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Driving home for Christmas? Take advantage of the lowest petrol prices in years!

For the first time in six years, the price of petrol has fallen under £1 per litre. Last week, supermarkets like Asda and Morrisons began cutting their fuel prices and more, Tesco and Sainsburys, quickly followed suit. The AA has also said it will be pressuring non-supermarkets to cut their prices as well.

Sainsburys’ head of fuel, Avishai Moor, said: “Christmas has come early for motorists this year, with petrol prices at the lowest level in six years. We hope this brings festive cheer to our customers and helps them to balance their budgets at this key time of the year”.

The price per barrel of crude oil dropped below $40 (about £26) earlier last week, which is the lowest price since 2009. Oil prices have been fluctuating for a while now, with them rising to as much as $110 (about £72) per barrel last summer. The drop in price was predicted by some analysts, who say the prices should remain under £1 until at least the New Year.

Although, oil prices still remain high despite the drop if we consider the lows of 86p per litre in 2009 and the steady low prices in other parts of Europe. But, at perhaps the most expensive time of the year, motorists will take every spare penny they can.