RAC comments on price cuts at the pumps

Commenting on the news that supermarkets are due to cut the price of fuel, RAC fuel spokesman Simon Williams said:

“This is great news for motorists and we hope it will spark a fuel cut frenzy on forecourts across the country. Supermarkets are proving that they are prepared to react to falling wholesale prices by passing on the benefit to families just ahead of the busy summer holiday season.

“The oil price, the biggest variable affecting UK fuel prices, is now at its lowest level in more than six months. This is due to increased oil output from the United States, which has been counteracting the production cut introduced some months ago by OPEC and other countries in a bid to try to boost the oil price. The pound has also gained against the dollar lately – meaning the outlook for lower priced fuel over the weeks ahead is positive.”