Wednesday, 6.45pm: As the RAC predicted today that petrol prices will fall below £1 a litre by the New year, you can already buy it for less than the national average in Peterborough.
In recent months the price of crude oil has plummeted, leading to a gradual fall in prices at the pumps.
Currently, the average price for unleaded at supermarket pumps is £1.14 per litre, with diesel at £1.20 per litre.
According to the RAC, the average price of unleaded in the UK is 116.9p – nearly 14p cheaper than in January – but according to petrolprices.com on Wednesday evening, you can already buy it for less than that with a number of Peterborough garages offering 114.9p, the average price being 117.6p for unleaded and 122.8p for diesel.
The RAC predicts that by January 2015 the price could be below £1 for petrol, which would be the lowest since May 2009. That would see the price of filling the average car’s 60 litre tank fall by £18.47 over January 2014.