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Petrol prices at their lowest in nine monthsBack

It has been reported this week that petrol prices are finally dropping with rates falling to their lowest level in nine months, but if you live in the North, you’ll feel the benefit more.

The AA has just released information which suggests that there is a clear north-south divide between the prices which people are paying for petrol, despite rates seeing a significant drop since March this year.

UK petrol pump prices are currently averaging 132.54 pence per litre, which is down by 1.16 pence on a month ago, and at a level which has not been seen since March. However, in London petrol costs remain higher at 133.55p per litre.

Diesel has actually gone up in value in the past month from 140.95 pence to 141.15 pence per litre, and for the year in total, the AA has reported that petrol has averaged at 133.83 pence per litre with diesel averaging at a higher rate of 139.17 pence per litre.

Although there has been a slight drop in petrol prices in the past nine months, they still need to become significantly lower to match those figures from last year, which averaged 117.36 pence for a litre of petrol and 119.75 pence for diesel.

Despite motorists being relieved to see a drop in prices at the pump this month, it still does not excuse the fact that latest figures from the AA reveal that petrol prices have increased by approximately 14 per cent in the past year, with diesel increasing by an even higher 16 per cent.

AA president Edmund King said: “As more severe winter conditions push up fuel consumption and families contemplate the cost of Christmas travel, it will anger many that pump prices remain artificially high in so many places.

“This is simply because there isn’t the transparency in the fuel market to indicate where prices should be.”

Mr King continued: “Although falling oil prices have brought prices back to where they were in the spring, the relief isn’t that great for rural and lower-income drivers.

“For many, this year has been like 12 rounds in the ring with a heavyweight boxer.

“Yes, the tempo of the pump price punches may have lessened, but drivers are still being pummelled. Some have been knocked out for good.”

 

Posted by Leana Kell on 22/12/2011