Petrol prices ‘not falling as fast as oil’
Petrol prices are still not falling as fast as the price of oil, even though prices at the pump have recently fallen below £1 per litre, according to The Guardian.
The Guardian’s analysis shows that the average price of petrol is falling by around 1 pence per litre every five days, but would have to fall by a further 5.8p to match the fall in oil prices.
On Thursday, the average price of unleaded petrol reached 97.96 pence per litre.
The rapid rise in petrol prices over the past year put many drivers under financial strain, pushing many towards debt. But, the Guardian reports, prices are now falling at roughly twice the rate at which they were rising earlier this year.
A spokesperson for Think Money said: “Petrol prices have been falling for a few weeks now, but retailers are still selling petrol they bought when oil prices were high, so we can expect to see cheaper prices yet – which is great news for people who have been pushed into debt by fuel costs.
“Of course, some people may still be struggling with debt caused by peak prices. We urge anyone worried about their debts to seek expert debt advice as soon as possible.”
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Think Money offer a range of debt solutions, including debt management, debt consolidation loans and IVAs (Individual Voluntary Arrangements). If you are worried about your debt, contact one of our expert debt advisers today.
Petrol prices ‘not falling as fast as oil’
financerss.co.uk
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