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Petrol prices hit lowest level since 2011

Petrol prices have fallen to their lowest levels for two-and-a-half years, saving families almost £15 a month. According to the AA, the average two-car family was spending £238.05 a month on filling up, but now pump prices have tumbled 9p per litre since early September. The average price of unleaded now costs 130.44ppl and diesel 137.78ppl.

Edmund King, rent-a-quote and president of the AA, commented: “you cannot underestimate the importance of lower pump prices. On average, 28 per cent of AA members buy a set amount of fuel each time they go to a petrol station. This rises to 40 per cent for younger drivers and 44 per cent for low-income ones.”

In September, a £30 spend bought drivers 21.7 litres and now it buys them 23, “a boost equal to a free 10-mile round trip to work.”

However, the AA have also warned that smaller towns are still missing out in a ‘post code lottery’, because of a lack of competition between supermarkets and petrol forecourts in rural areas. Unleaded costs 126.7p per litre in supermarkets in built up areas but 131.9ppl in coastal towns. 

Currently, independent forecourts have to pay fuel duty on receipt of a tanker load, but business minister Michael Fallon has been pressed to allow independent forecourts to defer paying fuel duty until after the petrol is sold to motorists. The AA have said they would “strongly support” this move for helping rural fuel stations struggling in towns against supermarkets. 

According to the AA, Asda has remained the cheapest, more than 4p on average cheaper than BP. 

Have you noticed the price drop? Let us know by posting in the comments below.  

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