Petrol prices coming down at last

Over the past week drivers in the UK have been delighted to see the price of petrol and diesel and the pumps coming down at last, following a lengthy delay after the price of oil fell by close to 50% a barrel. Led by supermarket giants such as Morrison’s and Tesco, petrol prices have now fallen to under 95 pence per litre at some stations.

A number of oil companies including BP have said that they have cut prices at a number of petrol stations, and it seems that the financial strain that many have been feeling because of the soaring costs of petrol could at last be starting to ease. Although finances remain strained for most the drop in petrol prices could help to ease the problems for many.

An official from supermarket giant Asda said that the petrol price cuts were a “welcome boost for consumers at a time of economic gloom and high inflation” adding that “This reduction will come as a relief to road users.”

A number of analysts have said that petrol prices will probably continue to fall over the coming months, with one official stating: “With the economic situation looking the way it is, I don’t think we have seen the bottom yet. There’s still a little bit to come out of this.”