Petrol Prices Set To Fall Further
19 December 2014
UK inflation fell to a twelve-year low in November, fuelled largely by a significant drop in the price of petrol – a trend which is set to continue, according to the RAC.
The RAC has predicted that based on current trends, petrol prices will continue to fall, reaching less than £1 a litre by early 2015.The average price of a litre of petrol now stands at 116.9p, while diesel costs an average of 122.33p a litre.
Many welcomed the news of a fall in inflation as the UK recovery is still facing challenges. A prolonged period of low interest rates should help to underpin business confidence and support investment.
However, some experts have warned that a further fall in inflation could have an adverse impact on the economy.