Petrol Prices Set To Fall Further

Petrol Prices Set To Fall Further

19 December 2014

UK inflation fell to a twelve-year low in November, fuelled largely by a significant drop in the price of petrol – a trend which is set to continue, according to the RAC.

The RAC has predicted that based on current trends, petrol prices will continue to fall, reaching less than £1 a litre by early 2015.

The average price of a litre of petrol now stands at 116.9p, while diesel costs an average of 122.33p a litre.

Many welcomed the news of a fall in inflation as the UK recovery is still facing challenges.  A prolonged period of low interest rates should help to underpin business confidence and support investment.

However, some experts have warned that a further fall in inflation could have an adverse impact on the economy.

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