AA downbeat on petrol prices
The AA has issued a damning report into the UK petrol market with a suggestion that despite increased competition on the supermarket forecourts will are unlikely to see the price of a litre of petrol fall below £1.10 in the short-term and indeed the AA believes the price of petrol will never again fall below £1!
Despite the fact that the price of oil has fallen back over last month there has been little impact on the forecourts yet because of the fact that many fuel retailers "buy forward". However, even when the eventual impact of the recent fall in the price is felt on UK supermarket forecourts we are still unlikely to see a significant drop in the price. This is a bitter blow for UK motorists who have been "taken for a ride" over the last few years with the price of petrol creeping ever higher, road tax on an upward spiral and insurance premiums significantly higher.
The cost of owning a car in the UK has spiralled higher over the last few years and indeed we are in a situation where many people cannot afford to run their vehicles. As the cost of running a car in the UK is unlikely to fall significantly in the short term we may see more people sideline their vehicles in favour of public transport.
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