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The automotive high of 2015:

January 3, 2016

Falling petrol prices

 

With the price of a barrel of oil falling below $40 for the first time since February 2009, prices on our filling station forecourts have been tumbling in 2015.

If you’ve filled up in the last couple of weeks, you might have paid less that £1 a litre for petrol – for the first time since the summer of 2009. Motorists are currently on track to save around £9 on a tank of petrol (for an average 55-litre family car) compared to the same time last year, with a saving of more than £11 for a diesel fill-up.

Even better is news that prices are likely to reamin at the current level for some time. As RAC Fuel Watch spokesman Simon Williams said: “The long-term outlook is for the oil price to stay low. OPEC is not due to meet again until June 2016 so unless an extraordinary meeting is called, it is anticipated production will continue to outpace demand and in turn keep wholesale fuel prices low.”

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