The average price of a litre of unleaded petrol, including duty and VAT, is £1.32 LEWIS WHYLD/PAPetrol stations were under pressure last night to reduce prices at the pump after the price of crude oil continued its slide. The price of Brent crude has fallen by almost 8 per cent this month as fears over the strength of the global economy hit business confidence. Simon Williams, spokesman for the RAC, said that the drop should translate into savings on the forecourt. “Major fuel retailers should be reacting to the sharp drop in the wholesale price of petrol by knocking at least 2p a litre off at the pumps,” he said. “Motorists have suffered with rising petrol prices for most of this year, with 10p a litre being added since the start of January.”Analysts said that the wholesale cost of petrol…

Source: The Times October 12, 2018 23:09 UTC