Petrol cost at five-year low as Pendle pump prices plummet

The price of fuel at Sainsbury's in Colne on Friday, January 16th.
The price of fuel at Sainsbury's in Colne on Friday, January 16th.
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Petrol is at its lowest price at the pump since Christmas 2009, according to the AA motoring group.

And a Leader Times Newspapers investigation on Friday found that fuel was more than 30p a litre cheaper in Pendle than it was in March, 2013, when reporters last carried out a survey.

The price of fuel at Asda in Colne on Friday, January 16th.

The price of fuel at Asda in Colne on Friday, January 16th.

The AA said the average mid-January UK petrol price is 108.9p - a 7.4p dip on the mid-December figure and only 0.5p short of the second-biggest monthly fall recorded by the AA.

The average mid-January diesel price is 116.1p a litre, which represents a 6.05p cut on the mid-December figure.

In the North West, the average mid-January petrol price was 109.1p a litre and diesel was 116.1p a litre.

These prices were polled before this week’s new supermarket price cuts reached the forecourts.

In Pendle, in a survey carried out between 9am and 10-30am on Friday, the average petrol price was 106.8p a litre and diesel 113.9p a litre.

Asda in Colne had the cheapest petrol and diesel at 103.7p and 110.7p a litre respectively, with petrol 30.2p a litre cheaper than in March, 2013, and diesel down by 31.2p.

Gulf in Skipton Road, Barnoldswick, and BP in Burnley Road, Colne, was the joint most expensive on Friday, with petrol and diesel at 108.9p and 115.9p a litre respectively.

The AA said a family with two petrol cars, with 55-litre tanks, is now spending around £16.30 a month less at the pump than in mid-December, and more than £50 a month less than last July, when petrol was at 131.7p a litre.

The cost of filling a Transit-type van, based on an 80-litre tank, fell £4.84 this month, and is £16.21 cheaper to refuel than in July when diesel hit its summer high of 136.4p.

But the AA warned that there would be no guarantee petrol prices would drop below £1 a litre after government figures showed a supermarket price war had been sparked as their share of sales had slumped by 5%.

Edmund King, the AA President said: “A £50 cut to a two-car family’s monthly petrol bill is a huge boost after more than five years of squeeze on the necessities of modern life, including fuel.

“This week, a £1 litre has appeared over the horizon although it’s not guaranteed to appear in every town.

“In fact, many rural towns would say that predictions of petrol at 99.9p a litre are a bad joke as they continue to struggle with the pump price lottery.

“Even so, it has to be recognised that the supermarket price war that may have been a bit of a phoney in the past is a full-blooded fight back now.

“Certainly, drivers have increasingly given them the cold shoulder through 2014, mainly because price-matching across a locality takes away the incentive to go specifically to a supermarket for fuel – unless it has rock-bottom prices.”