Live updates

Petrol price fall 'one of biggest in 25 years'

Petrol pump prices have experienced the third biggest fall in 25 years, new AA figures suggest.

The AA said the drop would help consumers spend more on other goods. Credit: PA Wire

The AA said that between mid-November and mid-December UK average petrol prices fell 6.6p to 116.32p a litre.

The drop does not include the latest 2p-a-litre reduction by the four biggest supermarkets, which took effect on Wednesday.

Only the October-November 2008 fall of 11.5p a litre and the August-September 2006 dip of 7.9p have been greater than the most recent decline.

Average diesel prices have also fallen 5.27p a litre to 122.16p over the mid-November to mid-December 2014 period, the AA said.

But experts have warned that the rapidly falling prices "carry a warning from the ghost of Christmas past" due to the parallels with the 2008 oil price crash.

  1. ITV Report

Losing Your Local?

Advertisement

Supermarket 'big four' slash prices at the pumps

The 'big four' supermarkets are all slashing fuel prices by up to 2p per litre from today.

Asda, Tesco, Sainsbury's and Morrisons will all be reducing pries at the pumps by 1p per litre of diesel and 2p per litre of petrol.

Prices were around 16p a litre higher just three months ago Credit: PA

It means that customers at Asda will pay no more than 110.7p for petrol and 117.7p for diesel - down from 126.7p and 133.7p respectively less than three months ago.

It is the latest in a series of fuel price drops in recent weeks, as experts predict motorists could see costs dip below £1 a litre come the new year.

Read: Boost for drivers as petrol set to drop below £1 a litre

Boost for drivers as petrol set to drop below £1 a litre

Motorists could be in for a festive boost as the cost of petrol is set to dip below £1 a litre in the coming weeks, the RAC has said.

The plunging cost of world oil is responsible for the recent drop, and could see prices at the pumps fall to their lowest level since May 2009.

The RAC says UK drivers could see the benefits of falling fuel prices in the first few months of next year Credit: PA

With Brent crude selling at its lowest level in more than five years - and is set to keep on dropping - the RAC says UK drivers could see the benefits in the first few months of next year, with prices dropping to under 110.9p a litre in the next fortnight alone.

The average price of a litre of petrol is down to 116.9p - almost 14p a litre cheaper than at the start of the year.

And diesel is almost 16p a litre cheaper, down to 122.33p.

Advertisement

Get-rich-quick ad promising £50k a year banned

An advert which promised "100% certain" success of winning £50,000 a year in a get-rich-quick scheme has been banned by the industry watchdog.

The ad, published at streetwisenews.com/50k, was slammed for being 'misleading' and 'unsubstantiated' - and the Advertising Standards Agency (ASA) said it could be considered socially irresponsible to boot.

The advert was published at streetwisenews.co.uk, which is run by Streetwise Publications Credit: StreetwisePublications.co.uk

The advert claimed that 'George' had found a way to win £980 a week, £50,000 a year, or "as much money as he wants, whenever he likes" - but the regulator ordered it be taken down for suggesting that gambling was a solution to financial concerns, a positive alternative to employment, and a way of achieving financial security.

Streetwise Publications argued the claims were based on the real-life experiences of the author, and came from the "mathematical fact" that five per cent of all gamblers were overall winners thanks to strategic analytical systems.

But the ASA ruled the advert suggested all betters were guaranteed to be winners, and demanded the ad be taken down.

Load more updates