Petrol costs are cheapest in Northern Ireland where motorists can expect to pay just 105.71 p per litre to top up their vehicles. The costs are a staggering 8p cheaper than London, the most expensive region in the UK with costs standing at 113.5p per litre.
- Fuel prices biggest weekly fall with petrol prices under £1 a litre
The major difference in fuel costs can equate to almost £3.78 in savings when filling up a vehicle.
Price differences are even as high as 5p per litre across various areas of England. The North East is the cheapest area in England with costs standing at just 108.80 pence per litre.
The North East is the cheapest area in England with costs standing at just 108.80 pence per litre.
Diesel fuel also has major price differences between regions with a gap of 5p per litre between the least and most expensive.
Northern Ireland is also the cheapest area in the country for diesel with a cost of just 112.26p per litre.
This is around 3p per litre than the rest of the UK and up to 5p cheaper than London who has the highest price at 117.64p per litre.
Neighboring regions are also showing high price variances with costs up to 2p per litre cheaper in the North East compared to the North West.
According to the Forecourt Trader prices are falling their fastest in the West Midlands amid the coronavirus pandemic.
Fuel pump prices 30p per litre higher than oil prices, says experts [COMMENT]
UK fuel duty rates frozen for tenth year [INSIGHT]
Coronavirus causes UK fuel pump decline [ANALYSIS]
In just one week, average costs have fallen by 4.28p per litre in the highest savings in the country.
The North East is falling the lowest with savings of just 2.06 p per litre over the past week, although this area is already the second cheapest in the UK.
Government data shows the cost of petrol and diesel has fallen for the seventh week in a row due to a drop in wholesale oil costs.
Petrol prices have fallen to its lowest level in three and a half years as costs tumbled by 9p per litre in just two weeks.
- Experts urge motorists to use this one thing when filling up
Petrol fell a further 2p per litre this week after dropoin 7p a week before to currently stand at 110.23p.
Some retailers have even been seen selling petrol at under £1 per litre in a desperate attempt to secure sales.
However, government restrictions across Europe have seen a stark decrease in the number of car journeys which has forced the demand in oil to plummet.
According to the RAC, crude oil began March at $50 a barrel before falling 66 percent to $18 by the end of the month to hit its lowest level in 18 years.
The RAC claims there is the possibility for further price cuts in April with forecourts maybe falling as low as 98p per litre for petrol.
The experts have also warned pressure could be placed on independent forecourts who may be forced out of business trying to match the price cuts seen by supermarkets.
RAC fuel spokesman Simon Williams said: “While fuel prices are at a three-and-half-year low, not many drivers are able to take advantage of them.
“We would normally be calling for prices to be reduced further due to the low price of oil.
“But in these unprecedented times we would urge people to support smaller independent fuel retailers in more rural locations otherwise they may end up losing them, to their future detriment.”
The Petrol Retailers Association weaned the lack of sales was making some fuel stations unviable.
They said many petrol stations had already begun to close their doors in rural areas as industry sales fell by up to 75 percent.
Source: Read Full Article