The RAC is suggesting you hold off on filling up your people carrier or 1998 Corsa until as near to Christmas as possible, as the latest collapse in the price of crude oil on the financial markets should see a new push down on forecourt prices in late December and into the new year.
The decision by OPEC -- a body that represents a bulk of the oil producers around the world -- not to cut output to end the glut of cheap oil sloshing about in offshore tankers has seen crude oil plummet on the market once again, with prices hitting lows not seen since the depth of the financial crisis some seven years ago.
This should ensure that consumer prices, once trickled down and even taking into account the massive tax take the UK adds to every litre sold in the UK, will go lower still quite soon. ASDA's already down to 101.7ppl in some spots for petrol, so we're nearly at tank-filling party time already.
The RAC's Simon Williams is excited about filling his fleet up for less, saying: "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 to 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.” [Guardian]