Motorists have something to smile about in the New Year as the price of fuel at the pumps continue to fall with the news that Supermarket giants ASDA and Tesco are slashing around 3p off a litre for both petrol and diesel.
The AA have also recently announced that average fuel prices are at their lowest for 21 months, and have fallen by approximately 30ppl since the summer highs of over 120p and 130p.
In July 2008 the price of a barrel of crude oil had hit a record high of $147 a barrel which accounted for much of the soaring prices found up and down the UK, however recent dramatic falls in the price of oil has seen a barrel sell for around the $40 mark and these falling costs have finally been reflected in the price at the forecourts.
The AA said the average UK petrol price in the New Year is 87.6ppl, and diesel price is 99.6ppl.
