PETROL prices are expected to fall below 175p per litre this weekend, giving millions of motorists some welcome release, the AA reports.
Fuel costs have soared in recent months – but this weekend will mark a turning point as prices fall 16.5p below their peak, knocking £9 off the price of filling up a car.
Pump prices this weekend will be back to where they were on the Jubilee weekend at the start of June.
There have already been signs of prices easing off in recent days. On Wednesday, petrol averaged 175.24p a litre, having been 179.80p a litre a week ago.
Diesel is now down to 185.90p a litre, compared to 190.01p last week.
The AA said costs will fall BELOW 175p this weekend and could fall by a further 15p in coming weeks.
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Wholesale fuel prices have soared in recent months, in part because of the ongoing war in Ukraine.
Petrol prices peaked in June, with motorists reporting that some forecourts were charging more than £2 a litre for fuel.
Costs are still significantly higher than a year ago, when petrol averaged 135.3p a litre, and diesel 135.56p.
The increase has meant misery for families who saw the cost of filling up a car top £100.
The AA said that prices easing off could save the average family with two cars almost £400 a year.
Luke Bosdet from the AA said petrol stations need to pass on the savings to drivers as quickly as possible: "The 20p-a-litre fall in diesel wholesale costs should also be contributing to lower transport costs that will hopefully roll back some of the inflation on goods and services.”
Last week, supermarkets were slammed for not passing on savings to motorists quickly enough.
The RAC accused Tesco, Asda, Morrisons and Sainsbury's of failing to reduce prices in line with wholesale costs, as well as other forecourts.
Supermarkets became embroiled in a price war as they slashed the cost of fuel.
Morrisons slashed petrol prices by 6p a litre, Sainsbury's and Asda by 5p, and Tesco by 6.5p.
The AA said petrol prices should fall further as wholesale costs continued to ease off.
It said if forecourts passed on the full 30p-a-litre drop in full costs, it could cut families' annual petrol bills by £720.
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