Biggest Drop in Petrol Prices Since 2008

Petrol

A leading motoring organisation has reported that petrol prices are now at their lowest for five years, with the biggest drop in prices since 2008 taking average costs at the pumps to 132.16p a litre.

The AA announced that the average fuel values dipped 5.49p per litre in the month between mid-September and mid-October, the biggest monthly price dip since November 2008.

At the same time, diesel prices have gone down from 142.50 a litre to 139.12p.

Petrol

While stressing that more drops were not likely, mainly because of the UK’s poor refinery capacity and the probable strengthening of the American dollar, the AA says the decrease has been caused by reduced wholesale prices. It added that, put differently, the decrease in prices means the cost of filling up a smaller petrol-fuelled car is reduced by £2.74, while a bigger model, for example a Ford Mondeo, could now be refuelled at a saving of £3.84.

Fuel prices vary across the UK, with differing prices due to whether areas are mainly built-up, giving rise to greater competition, or more rural – in the countryside transport costs are higher and there is not so much competition.

London, the north of England and Yorkshire and Humberside are the joint cheapest places to fill up in Britain (at 131.9p) and Northern Ireland is the most expensive, at an average pump cost per litre of132.9p. When it comes to diesel, Scotland is the most expensive place to by fuel, and London is again the cheapest, at 140.1p and 138.6p respectively.

In terms of how Britain compares with other nations, the UK has the second-highest diesel price in Europe, and the seventh highest petrol prices.

The AA described the fall in prices as a “dramatic improvement”, adding: “Heading into winter, the timing couldn’t be better.”

The organization also praised the decision of a couple of the biggest supermarkets to pass the price decreases on to customers, saying this was “a huge benefit for drivers and businesses.”

It add that it is encouraged by the increasing number of non-supermarket retailers who challenge the pricing structures of other supermarkets whose prices have stayed higher, and stated that the current industrial dispute in Scotland’s Grange mouth oil refinery has shown up this country’s “lack of refinery capacity.”

News of the price drops will of course, be widely welcomed by UK transport companies and industry organizations. And the decreases have shown how road travel is an extremely cost-effective option for transporting goods across the country – especially now.

Clients can expect rapid delivery, especially over shorter distances across the UK or mainland Europe, its’ easy to track goods, and road haulage is an especially good option for perishable items. Equally, cargo can be taken directly to its final destination and straight into the hands of the client, at a time that best suits them.

If you’re looking into haulage companies UK has a wide number of suppliers. Begin your search for transport companies in UK locations nationwide by going online.

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