PUMP BOOST
Boost for Brit motorists as petrol expected to drop to 140p a litre
The government has said that a PumpWatch website should be live by the end of the year
MOTORISTS will soon get a boost from cheaper fuel, with prices expected to drop to 140p a litre, the AA says.
The wholesale oil price has fallen to a four-month low after the oil cartel OPEC unexpectedly said that it would increase oil production this year.
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Forecourt prices typically react to the price of oil three weeks later as it takes that time for crude oil to work through refinery supply chains.
Two years ago prices at the pump hit record highs, soaring to as high as 191.6p and 199.2p for petrol and diesel respectively.
The average petrol price has dropped to 147p a litre while diesel is at 152p a litre.
Wholesale brent crude has been trading below $80-a-barrel for much of the past week.
READ MORE ON PETROL PRICES
“Falls in petrol costs recently are paving the way to 140p at the pumps.
Scores of fuel stations are already at 139.9p or cheaper – and not just at supermarkets,” said the AA’s Luke Bosdet.
“It just needs other forecourts to shift into gear and catch up, or lose their customers to rivals.”
The government has said that a PumpWatch website should be live by the end of the year, in a victory for The Sun’s long-running Keep it Down campaign.
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