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Petrol prices will fall below £1 'within weeks'

PETROL will drop below £1 a litre across the country within weeks, it has been predicted.

With prices falling to as low as 102.9p in Scunthorpe, government ministers has added to increased demands on oil companies to pass on falling prices. Treasury minister Danny Alexander told the cabinet that the latest falls in the global oil price should see average prices hit the £1 mark at the pumps. And he called on drivers to use their buying power to put pressure on fuel firms refusing to respond. Mr Alexander briefed the Cabinet on the latest Treasury forecasts, and the expectation that the price will hit £1 within less than a month. While he welcomed the moves so far from oil companies, he insisted they had still failed to pass on the full benefits of dramatic falls in the price of crude oil. A recent price war at the pumps saw fuel prices fall up to three times in one day at forecourts in Scunthorpe, with drivers saving an average of £15 on a full tank from six months ago.
NA
Copyright:
Scunthorpe Telegraph
Published on:
January 21, 2015
Source url:
http://www.scunthorpetelegraph.co.uk/Petrol-prices-fall-1-weeks/story-25899934-detail/story.html
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