Petrol prices predicted to fall below £1

Picture: Nick Ansell/PA Wire
Picture: Nick Ansell/PA Wire

Motoring organisation the RAC is predicting that petrol prices will fall below £1 a litre in the new year, but will it happen in Berwickshire?

If fuel prices fall below the £1 barrier in January, it will be the first time in nearly six years they have been that low.

In recent months, the price of crude oil has plummeted, leading to a gradual fall in prices at the pumps. For example, the prices dropped to 121.9p for unleaded in Eyemouth and 119.9p in Coldstream this week.

The price of Brent crude has fallen below the $60-a-barrel mark for the first time since early July 2009 and is predicted to keep on dropping after OPEC (Organisation of the Petroleum Exporting Countries) indicated it will not cut production even if oil hits $40 a barrel.

RAC fuel spokesman Simon Williams said: “What’s currently happening at the pumps with falling fuel prices is something many motorists will not remember seeing before.

“Talk of prices going up like a rocket and falling like a feather could not be further from the truth as retailers have been quick to pass on savings at the forecourt since the RAC forecast on December 6 that prices were due to come down by 7p a litre for petrol and 6p for diesel.”

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