Petrol prices could drop by over 10p a litre by Christmas, it has been reported. Due to a drop is the price of crude oil to below $50 a barrel experts now predict that forecourt prices will be considerably lower next month.
Average pump prices yesterday were 94.53p a litre for unleaded and 108.66p for diesel. Supermarket chain Morrisons is now planning to drop its prices below 90p. From this morning unleaded will cost 89.9p at its forecourts and this is likely to force other retailers to slash their prices.
Brendan McLoughlin, the founder of PetrolPrices.com, said: ‘Our calculations suggest that the price of unleaded could fall to 82.9p a litre by Christmas, but don’t underestimate the influence the value of the pound has.
‘Compared to August, the pound has dropped by around 25 per cent against the dollar. If it strengthens we’ll get better value for money when buying oil and pump prices could drop below 75p a litre.’
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