RAC predicts falling fuel prices in coming weeks
RAC analysis suggests drivers should benefit from falling fuel prices in the coming weeks, with petrol due to come down 6p a litre and diesel dropping by 3p.
It says that as long as retailers pass on the benefits of falling oil prices, drivers should see prices at the pumps come down from their current averages of 139p for petrol and 146p for diesel.
RAC head of policy Simon Williams said: “Drivers have had to endure five months of rising prices, so it’s good news wholesale prices have fallen significantly, and forecourt totem signs should soon be reflecting this.
“We expect retailers to start to cut prices this week as more buy in new supply at lower prices. As long as the cost of a barrel of crude oil stays around the $70-mark we believe there’s a chance drivers could see petrol heading back down towards 130p a litre.
“As always in a falling market, much will depend on how fully retailers decide to pass on these wholesale savings at the pumps. The old ‘rocket and feather’ saying about prices going up like a rocket and falling like a feather will hopefully be proved wrong this time around.”
