Boost for drivers as diesel bills are set to drop after oil prices plunged
CAR diesel bills are set to drop after oil prices plunged over the past few days.
Russia yesterday lifted a ban on exports of the fuel which would have hit global supplies.
It means diesel heading to the pumps is down nearly 9p a litre — and petrol 4p — according to the AA.
The price of Brent Crude — refined into diesel and petrol — fell by ten per cent this week to $84.23 (£68.89) a barrel.
It takes a few weeks for wholesale costs to feed through to fuel bills.
Coming in the wake of The Sun’s long-running Keep It Down campaign, it is the biggest weekly fall in over a year.
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Just last week oil was trading above $96 (£78.40) a barrel after rising on the back of Saudi Arabia and Russia cutting production.
It fell because markets fear global demand will not recover as quickly as expected.
The invasion of Ukraine has added to seesawing prices.
And fuel retailers face scrutiny after it emerged their profit margins were boosted by delay in passing on falling prices to drivers.
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The AA’s Luke Bosdet said: “Drivers hope more fuel stations have seen the light and start to bring down prices.”
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