Cheaper petrol on the horizon

MOTORISTS were told to expect cheaper petrol in the coming weeks as oil prices continued their retreat from record highs yesterday.

The AA said falling oil prices could lead to reductions of approximately 5% within weeks as the benchmark Brent crude oil price fell to $34.60, its lowest in six weeks and 1.3% lower than Tuesday.

AA spokesman Conor Faughnan welcomed the continued fall after an "alarming spike" in world oil prices but said it would take four to six weeks for lower prices to feed through to petrol stations.