Price of petrol nears one pound per litre as cost tumbles

Price of petrol nears one pound per litre as cost tumbles 23rd January 2015

Drivers around the UK could soon be paying less for their fuel, after the price of oil fell and a number of supermarkets have dropped their prices for petrol. 

According to the latest reports, the major supermarkets are dipping their prices towards one pound per litre on the back of the price of oil falling. With Brent crude falling from $110 per barrel in June 2014 to $48 in January 2015, Asda, Morrisons, Tesco and Sainsbury’s have dropped two pence off a litre of petrol. 

It means that customers will now pay just 103p per litre for petrol and 110p for a litre diesel. Prices have now fallen by an average of 23p since September 2014. They are expected to fall further in the future, and drivers could soon be welcoming the sub-one pound litre. 

One headline-grabbing garage has already set prices below this barrier, with Harvest Energy in the Midlands selling fuel for just 99p a litre – the first time a litre has cost less than one pound for six years. 

Although the price of fuel is getting lower, however, there is still plenty drivers can do to save themselves even more. Driving style and proper car maintenance can contribute to how the car eats up fuel, directly affecting how much the driver needs to spend filling it up. 

Things like having new tyres fitted when yours become worn and making sure the tyre pressure is right at all times can see your car use far less petrol. Twenty per cent of fuel is used to overcome rolling resistance of tyres, and this increases by as much as six per cent when tyres are under inflated.

In addition to this, driving within the speed limit can make a huge difference. Those who drive at 80mph will use up to 25 per cent more fuel than at 70mph. The Energy Saving Trust said that driving at the right speed can save drivers between £250 and £300 per year. 

Even if the price of petrol falls as low as one pound per litre, it's always best to know how to save even more money. 

Posted by Danielle Barge