£2.83 million 'diverted' from pump to high street

It is not only motorists who will enjoy the biggest drop in petrol prices since the credit crunch began - businesses have received a boost as consumers spend their cash somewhere other than the pump.

  • According to the AA, the 5.48p average drop in petrol prices will have diverted £2.83 million a day from the pump to consumer spending.
  • Northern Ireland was the most expensive place for petrol in mid-October, with costing 132.9p a litre, even though it had also seen the biggest fall over the last month.
  • London, the north of England, and Yorkshire and Humberside are jointly the cheapest areas at 131.9p.
  • Despite a 3.3p-a-litre reduction since mid-September, Scotland remains most expensive for diesel at 140.1p a litre while London is cheapest at 138.6p.

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Lowest petrol price for 5 years

Motorists are being urged to enjoy the biggest fall in petrol prices since before the credit crunch as a further dip is unlikely, according to the AA. The average price has fallen by 5.49p per litre, the biggest drop since 2008.