The cost of a litre of petrol has dropped below the magic one pound mark for the first time since December 2007. With financial markets around the world crumbling and the price of oil at only $80 a barrel from a high of $147 it’s the UK motorists that are reaping the rewards. UK Supermarket ASDA have been the first to slash prices below the one pound mark and others are likely to follow suit. The fall oil prices has been widely reflected on the stock market, with shares in BP sliding nearly 4 per cent.

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Michael Williams  - Motoring costs decrease   |86.0.143.xxx |2008-10-22 20:56:48 It's wayyy past time that petrol prices fell. They've been far to high far to long. Lets hope that tax and insurance are the next to decrease. Check www.carindemnity.co.uk to see if your insurance can be any cheaper. Reply 0   0

danfinn  - What about diesel   |87.115.7.xxx |2008-11-21 23:59:42 The price differential between petrol and diesel used to be about 5p, it's now about 15p. Why is this?? Most goods are transported using diesel are we being ripped off again??? Reply 0   0

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