Petrol for £1 a litre, for Christmas
Motorists looking for a bit of good news this festive period - there's some good news! You could be paying £1 for a litre for petrol! With oil prices falling to the lowest prices they've been in seven years, that means the retailers are all set to cut their prices in return.
The RAC reckon that this is going to see a drop of 3p for petrol and 5p for diesel. So, in actuality, that means prices would be around 103p for petrol, and 104p for diesel.
However, it looks like it'll go lower than that. Yesterday, Asda said that they were "cutting the price of unleaded to 101.7ppl and diesel to 104.7ppl" from today.
As well as Asda, Tesco have cut petrol and diesel prices, and Sainsbury's have said that they'll be dropping prices by "up to 2p".
The RAC's Simon Williams said: "We expect Britain's supermarkets and cheapest fuel retailers to be selling petrol at £1 a litre or less in time for Christmas. These retailers consistently tend to be 3p-5p a litre cheaper than the UK average price. We are still some way off the average price of unleaded reaching the £1-a-litre mark, but this will be a big step in the right direction."
"If retailers don't pass on the savings quickly, they will be giving themselves an unpopular Christmas boost to profits by pocketing the extra margin. They should really be passing this on to their customers instead. The long-term outlook is for the oil price to stay low."
Of course, last month, Asda were selling petrol for 99.7p in a promotion around Black Friday, so if the supermarkets want people through their doors this Christmas, they could do worse than giving everyone savings on fuel.