And finally…petrol to become cheaper than water?

Petrol PumpAs the price of oil continues to plummet across the world, motoring experts have today revealed that it could soon be cheaper for consumers to buy a litre petrol than a litre of bottled water.

Brent crude fell to below $30 a barrel for the first time since 2004 this week and has fallen by more 73 per cent since reaching highs of $115 last summer.

Motoring group RAC said pump prices now could fall back to levels last seen in the aftermath of the financial crisis in 2009, if the commodity plunges to as low as $10, a forecast made by Standard Chartered bank earlier this week.

The RAC said such a scenario could lead to UK motorists paying just 86p per litre for fuel - as long as the pound does not continue to weaken against the dollar.



In December major supermarket fuel retailers cut petrol to under £1 per litre for the first time since 2009 – excluding promotions – while diesel was given the same treatment last week. Average prices across the country are 102.5ppl for petrol and 103.2ppl for diesel.

RAC fuel spokesman Simon Williams said: “With no apparent end in sight to the free-falling price of oil, motorists can expect some really low fuel prices in 2016.

“Breaking through the pound a litre price point for both petrol and diesel was clearly a welcome landmark, but it looks as though there is more to come.”

Drivers will still be paying fuel duty of 84pc even at $10, the motoring group said.

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