Christmas has come early for cash-strapped motorists as the price of oil continues to drop in response to the international recession.
Supermarket Morrisons dropped their unleaded by 2 pence this week to 89.9 pence/litre, and other supermarkets were quick to follow. This is the first time that unleaded has been this cheap in over eighteen months and it means that filling up an average car is around £12 per week cheaper than when prices hit their peak in the summer.
Experts are now predicting that unleaded could dip to 83 pence per litre in time for Christmas, as the price of oil has been continuously dropping over the last couple of weeks and fell below $50 per barrel. At its peak it was selling for nearly £150 per barrel.
Unfortunately the news isn’t so good if you’re a diesel user. Insufficient refining capacity and increased demand for heating oil has kept diesel prices high, and it is now 15 pence more than a litre of unleaded.
