Tuesday, 4 October 2011

Should petrol be cheaper?

The price of Brent crude oil, which is followed as a benchmark across the world, was slipping closer to $100 today.

The cost of a barrel of crude for delivery in November (if you want it on your doorstep) reached a low of $100.34.

But what about the cost of fuel to fill up our cars?

The latest average price for unleaded petrol (from petrolprices.com) is 135.03p, while diesel is 139.72 a litre.

If you think that is high, it might stoke your anger to look back at fuel prices in February, the last time Brent actually closed a trading day below $100.

The average price reported by the AA for February was 128.88p for unleaded and 132.8p for diesel.

So today we are paying around 7p extra per litre.

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