Good news everyone! The average price for a litre of petrol has fallen for the fourth consecutive month, with Unleaded sitting as 107.82p at the end of October, down almost 2p from the start of the month.
Will the price stay low? The RAC are forecasting little change in prices over the next few weeks. Fuel spokesperson Simon Williams said:
“We are currently enjoying a sustained period of lower fuel prices as a result of the long-term deflated oil price which has been brough about by OPEC – the Organisation of the Petroleum Exporting Countries – looking to stop competitors taking its share of the market by over producing and keeping the barrel price low.
“A year ago motorists had probably become accustomed to only ever seeing prices go up, so having four consecutive months of the petrol price coming down is a pleasant surprise. Fuel is without a doubt the biggest cost of motoring and the forecourt price is a constant cause of concern for drivers, which makes this relief at the pumps all the more welcome.”
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