CAR diesel bills are set to drop after oil prices plunged over the past few days.
Russia yesterday lifted a ban on exports of the fuel which would have hit global supplies.
It means diesel heading to the pumps is down nearly 9p a litre — and petrol 4p — according to the AA.
The price of Brent Crude — refined into diesel and petrol — fell by ten per cent this week to $84.23 (£68.89) a barrel.
It takes a few weeks for wholesale costs to feed through to fuel bills.
Coming in the wake of The Sun’s long-running Keep It Down campaign, it is the biggest weekly fall in over a year.
READ MORE MONEY NEWS
Brits are showering at the gym, reusing teabags in a bid to save cash
Drivers wrongly fined under Sadiq's ULEZ scheme – could you get cash back?
Just last week oil was trading above $96 (£78.40) a barrel after rising on the back of Saudi Arabia and Russia cutting production.
It fell because markets fear global demand will not recover as quickly as expected.
The invasion of Ukraine has added to seesawing prices.
And fuel retailers face scrutiny after it emerged their profit margins were boosted by delay in passing on falling prices to drivers.
Most read in Business
WORTH A COMEBACK
All about when Woolworths closed and its owners
CLOUDBUSTING
Amazon & Microsoft facing fresh scrutiny over dominance of cloud computing
I GOT YOU BABE
How T Levels help young people to launch specialist careers like midwifery
OPEN FOR BUSINESS
Major bargain chain to open 14 new UK stores – is one coming near you?
The AA’s Luke Bosdet said: “Drivers hope more fuel stations have seen the light and start to bring down prices.”
Thrill geekers
MERLIN Entertainments has struck a new partnership with Immersive Gamebox to roll-out virtual reality game rooms across its city resorts in the UK, USA and Asia.
Good week
Bad week
Source: Read Full Article