Petrol price drop - looks like it is over

3 February 2016

petrol If you've been enjoying the price drops in fuel for your car, don't get used to it as it looks like it is over. For now at least.

The RAC are predicting that the cost of petrol and diesel at the pumps is going to start nudging upward again. With wholesale prices on the rise again, last week's fuel-for-under-a-quid aren't looking like they'll be coming back any time soon.

The RAC's fuel guy, Simon Williams, told Sky: "Motorists have seen petrol and diesel prices reach their lowest points since 2009."

"January saw the oil price go into free-fall with talk of a barrel dropping to $20 and possibly even to $10 dollars, but since the low of $26 a barrel the market has started to creep back up."

"However, the oil market is notoriously volatile, even in more stable economic times, so it's still possible that the price could drop back again."

So don't lose hope drivers! The fuel market is up-and-down more times than Charlie Brown's mood, but any drop in price won't be happening soon.

TOPICS:   Motoring

1 comment

  • Terry M.
    Nonsense, crude inventories are at a all time high and increasing. This is due to a drop in the dollar and speculation about the producers all getting together to discuss production. We will see circa £1 prices for a while yet. Sounds like the man at the RAC has invested in oil.

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