Home Business NewsBusinessAutomotive News Petrol prices fall to a four-year low

Petrol prices fall to a four-year low

by LLB Reporter
5th May 20 1:40 pm

According to new government data petrol prices have fallen to a four-year low, as the average cost of a litre at the forecourts now costs £1.08.

The price drop means to fill up a family car with 55 litres of fuel is around £7 cheaper, which is the lowest since April 2016.

Diesel is now at its lowest level since October 2016, which has now sunk to £1.15 per litre.

RAC fuel spokesman Simon Williams said: “It’s ironic that at a time when many of us are only making a fraction of the trips we did before the lockdown, prices have fallen to this level.

“Based on current wholesale prices, there’s the possibility for even lower prices – but we can’t see this happening unless lockdown restrictions are eased and fuel retailers start selling fuel in much greater volumes again.

“With so much fuel in storage needing to be used up, retailers shouldn’t have too many reasons to put prices up as any surge in car use is unlikely to make much of a dent in supplies for some time.”

Road traffic numbers have fallen by 58% due to the coronavirus lockdown, which is lower than in early February, the Department for Transport figures show.

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