RAC says petrol prices fall to three-year low

Published On Sep 25, 2024, 10:10 AM

Petrol prices in the UK have reached their lowest point in three years, averaging £1.35 per litre. The decline is attributed to lower global oil prices and a strengthening pound. The RAC suggests that prices may decrease further, potentially dropping to as low as £1.26 per litre. This positive trend in price reduction is expected to alleviate financial pressure on consumers. Meanwhile, the Petrol Retailers Association warns of their members' squeezed margins due to increased costs. The situation reflects past market volatility following geopolitical events.