Fuel prices have hit highs not seen since 2014, but the AA says relief is on the way. Relief, it says, that could amount to 3p a litre – or £1.50 a tank.
Of course, there’s always a possibility that any savings consumers can look forward to may be dented by the rumoured un-freezing of fuel duty in the Autumn budget. It’s been held at 58p a litre since 2011.
Nevertheless, the AA predicts a forthcoming decrease in prices due to the strengthening of the pound, allied with a cut in the wholesale cost of oil. Such drops have triggered penny-by-penny falls in competing forecourts’ prices in the past, resulting in price wars at the pumps.
“In the past, such a significant drop in wholesale prices would have triggered a pump-price battle among the supermarkets” said the AA’s fuel price spokesman, Luke Bordet.
“For the moment, drivers should keep an eye out for competitive oil company sites, taking the opportunity to undercut expensive supermarket sites”.
A drop in fuel prices would follow a full 11 consecutive weeks of price rises to date. In that time, the national average for a litre of petrol has reached £1.31 a litre. Diesel is even more expensive, at £1.35 a litre on average. Contrast to July 2018, when the average cost for petrol and diesel was £1.28 and £1.31 respectively.
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