Posted on September 17, 2008 by Fiona Hilliard

The price of oil plummeted to just $90 dollars per barrel yesterday, leading to hopes of a drop in the price of petrol.

Present prices are over a third lower than July when the cost of oil rose to $147 per barrel and motorists were forced to splash out as much as 119.7p per litre for unleaded petrol and 133.25p for diesel.

Today the average price of unleaded petrol stands at 112.8p (6% less than July’s prices).

Meanwhile, diesel prices have dropped from 133.3p to 124.2p, just under 7%.

Good news then for those planning an autumn escape with UK car hire or US car hire!

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