Petrol prices have fallen to a three-year low. The RAC said the average cost of a litre of the fuel at UK forecourts on Tuesday was 135.7p, with prices as low as £1.
26 in some areas. On the same date in 2021, the average unleaded price was 135.87p.
RAC fuel spokesman Simon Williams said: “To see pump prices drop to this level is really positive news, both for households who depend on their vehicles for getting about, and for the wider economy – as there’s a clear link between the cost of fuel and the headline rate of inflation. “Depending on where drivers fill up, they can be paying as little as £1.26 for a litre of unleaded – making the cost of refuelling a typical family car come in at less than £70.
” A relatively low oil price, caused by lower demand globally, and a relatively strong pound are among the factors that are contributing to pump prices falling. Mr Williams added: “Thankfully, we are now a long way from the record high prices of July 2022 which saw the average price of a litre of unleaded hit £1.92.
“We believe there is scope for pump prices to come down further in the next few weeks to reflect the lower wholesale costs retailers are paying when they buy fuel stocks.”.