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UK petrol prices hit 30-month low

Man filling up car petrol tank22/11/13

By Ian Lewis

Petrol prices are at their lowest for two-and-a-half years, leaving more money in the pockets of families and businesses across the UK, according to a new study.

Mid-September had seen petrol's average pump price hit 138.38p a litre.

But prices have been falling since then with retailers now charging an average of 132.16p per litre, the AA Fuel Price Report found.

Petrol 126.7p per litre

The report showed motorists can buy supermarket petrol for as little as 126.7p per litre in some built-up areas, where competition is at its strongest.

And the motoring organisation found some non-supermarket petrol stations in Streatham and Mortlake in London are charging drivers even less by asking for just 124.9p a litre.

Diesel prices have also continued to fall, the AA says.

Having hit 142.88p a litre during the second week of September the average price charged has now dropped to 137.78p.

Cost of fuel fallen

AA president Edmund King said: "On average, 28 per cent of AA members buy a set amount of fuel each time they go to a petrol station.

"This rises to 40 per cent for younger drivers and 44 per cent for lower-income ones.

"In September, a £30 spend bought them 21.7 litres and now it buys them 23 - a boost equal to a free 10-mile round trip to work.

"A family with two petrol cars was spending the equivalent of £252.54 a month on fuel in September, now it's £238.05.

"A company with 100 Ford Mondeos was spending typically £10,000 to fill them up with diesel in mid-September, now it's around £9,640.

Importance of Lower pump prices

"Last week, it was officially recognised that lower pump prices helped to bring inflation down to 2.2 per cent.

"You cannot understate the importance of lower pump prices.

"That is why, when the independent retailers say they would get significant savings from delaying the payment of fuel tax, the AA wholeheartedly supports the move if it helps the remote rural and other small petrol stations to survive."

But Mr King said motorists are still complaining about geographical differences in fuel prices.

The report found some supermarket petrol in towns without strong competition - normally coastal or small market towns such as Newark, Clacton-on-Sea and Trowbridge - is still being sold for up to 131.9p per litre. 

Mr King added: "In the many towns where our members and other drivers complain about pump prices being 5p a litre higher than a few miles up the road, extra relief for the retailers should be reciprocated with fairer pump prices."

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