Commenting on fuel price cuts announced by UK supermarkets today (Friday), RAC fuel spokesman Simon Williams said:
“This is some very welcome relief for motorists who have suffered a 3p a litre rise in the average price of petrol since mid-August as a result of Storm Harvey hitting the US Gulf Coast and disrupting refineries.
“Motorists are now paying nearly 120p a litre for unleaded – the highest since March – while the average price at the big four supermarkets is 117p. This latest cut from the supermarkets should force forecourt reductions across the country, hopefully bringing prices down by 2p a litre everywhere.
“Strangely, this has all come at time when the oil price has increased by around $7 a barrel since mid-August, but it is the strengthening of the pound to $1.35 that has made the big difference as fuel like oil is traded in dollars.”
For a comprehensive view on UK fuel prices, visit RAC Fuel Watch.