Petrol

The RAC believes there is a "very good chance" that petrol prices could fall below £1 per litre in the coming weeks.

The average price for one litre of petrol is currently £1.07, but some supermarkets across the country are selling it at £1.03 per litre.

Fuel prices have fallen dramatically over the past 12 months, and the RAC said that a recent 2p fall in wholesale prices is likely to be passed onto consumers in the near future. Oil prices have fallen by almost two thirds since the summer of 2014. Brent crude oil was trading at around $115 per barrel last year, but it has been hovering around the $50 mark since the end of the last year. Now, it is trading at $44 per barrel.

Speaking to the BBC, RAC chief engineer David Bizley said: "We've seen the wholesale price of petrol and diesel drop by a couple of pence recently.

"There's typically about two weeks lag in the system. So there's a very good chance that within a few weeks people will be selling fuel at £1.01, and then the temptation to move that extra penny or so will be unavoidable."