Low oil price leads to sharpest drop in petrol and diesel prices in 12 years
Amid exceptional circumstances, UK petrol prices fell by their largest margin in 12 years in March, triggered by a complete collapse in the world oil price, new RAC Fuel Watch data shows*.
While the price of a barrel of crude oil began the month above $50, by the end of March it had plummeted by 66% to under $18, its lowest level in 18 years. This was due to a combination of plunging demand in