posted 1 year ago

Petrol Falls To 96.4p Per Litre

Have you seen cheaper fuel?

Fuel prices are continuing to edge lower, with one filling station now selling unleaded for 96.4p per litre.

Petrol at the Harvest Energy Ablewell filling station in Walsall , West Midlands, is currently thought to be the cheapest in the UK, but the station’s owners say they will only hold the price that low until 6pm tonight (Friday, January 23).

Petrol prices have been slowly dropping since the price of oil dropped towards the end of 2014 and although the average price of petrol is still just over the £1 a litre mark, the filling station has taken the drastic move to cut the price by a further few pence.

The Harvest Energy chain of filling stations were the first in the country to drop their prices below £1 and had people travelling many miles to fill their cars up. A similar situation happened when the same chain of filling stations were the first in the country to drop their price below 109.7p per litre in December.

Velautham Sarveswaran, who owns the Harvest Energy chain, put his low price last week down to a great deal he was getting from his supplier. He told the Birmingham Mail: ‘‘It’s a great feeling for me to be able to give cheap prices to my customers, I like making them happy.”

The price of oil has already risen following the death of Saudi Arabia’s king Abdullah. The price of crude oil in the US was up by $1.07 (2.3%) per barrel when news of his death broke.

Petrol stations are well known for quickly reacting to a price rise in oil by increasing the cost per litre at the pumps, although of course once the prices drop they are sluggish to react.

Have you managed to take advantage of this cheap petrol price? Or spotted even cheaper fuel? Let us know.