Drivers breathe sigh of relief over petrol prices

Over the past six months things have become more and more difficult financially for households in the UK, with a range of soaring costs making it harder and harder to make ends meet. Amongst the rising costs that consumers have had to put up with are rising energy bills, soaring food prices, and rocketing petrol prices. However, there is a little bit of good news on the horizon for drivers, and this is that petrol prices are at last starting to come down.

Just a few months ago petrol prices were verging on £1.20 per litre, with diesel prices even higher, and this was due to the rising cost of oil. However, recently the prices of oil has come down by almost 50% but there was concern when the price of petrol at the pumps remained high.

Even the Prime Minister, Gordon Brown, had to urge companies to reduce their petrol prices to ease the financial situation for consumers given that oil prices had fallen.

It seems that now, finally, customers can breathe a sigh of relief with petrol prices around the country having fallen. Some of the supermarket giants are now selling fuel at under 95 pence per litre, and many of the oil company giants have said that petrol prices at many of their outlets have been cut. This could help to ease the financial crisis for households, who have been facing a tough time over the past year.

Industry officials have also said that there is room for further petrol price cuts, and that over the coming months prices could fall further.

One official said: “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.”