Experts suggest petrol and diesel prices could fall in weeks (Image: Getty)
and owners may notice a due to a significant decline in wholesale costs, according to . The motoring experts have predicted that petrol should drop by as much as 6p per litre if
This would see UK national prices heading to around 133p per litre from the current 139p per litre rate. Meanwhile, diesel owners could be set for savings of 3p per litre with rates dropping from around 146p per litre to 143p. Under the current trajectory, believes it is possible petrol could drop to around 130p per litre with diesel at 140p per litre.
It comes after months of rising prices at the pumps (Image: Getty)
, the discounts are down to a fall in the price of oil with barrels dropping from above $80 to just under $70 now.
Simon Williams, RAC’s head of policy, said they expected retailers to axe prices as soon as this week.
Simon explained: “Drivers have had to endure five months of rising prices, so it’s good news wholesale prices have fallen significantly, and forecourt totem signs should soon be reflecting this.
“We expect retailers to start to cut prices this week as more buy in new supply at lower prices.
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“As long as the cost of a barrel of crude oil stays around the $70-mark, we believe there’s a chance drivers could see petrol heading back down towards 130p a litre.”
A discount would be welcomed after months of slowly increasing costs has left
The cost of unleaded petrol with national averages at their highest rate since September.
Analysis suggested that topping up a 55-litre family car with petrol would set road users back around £76.81.
Diesel also went up in February, with rates increasing by 0.73p per litre.
Simon added: “As always in a falling market, much will depend on how fully retailers decide to pass on these wholesale savings at the pumps.
“The old ‘rocket and feather’ saying about prices going up like a rocket and falling like a feather will hopefully be proved wrong this time around.”