Petrol prices are at their lowest in what feels like forever and experts forecast that they’ll continue to fall.
The current prices of petrol are a direct result of oil prices around the world being at a five year low. As they continue to fall, petrol prices are more than likely to follow the trend and drivers all over the country are taking advantage of the financial benefits.
The last time that petrol prices were under £1 was back in May 2009, which means that if petrol prices do fall to 99p it’ll be at its cheapest in nearly five years.
According to The Mirror, RAC fuel spokesman Simon Williams said:
“Current forecasts are for average petrol prices to fall to below 110p a litre in the next fortnight and diesel to drop to under 116p.Advertisement
“At these average prices across the country the cheapest retailers will almost certainly be selling petrol for around 105p a litre, or even lower.
“With the United Arab Emirates energy minister saying OPEC will not cut production even if oil falls as low as $40 a barrel, we have every reason to think petrol at under £1 early in 2015 is a very real prospect.”