Petrol price falls provide respite for motorists

Motorists heading away for the bank holiday weekend will have some good news at the pumps for a change.

The AA reports that a fall in the wholesale price of petrol has put an end to fears that prices would surge by four pence per litre.

In fact, one retailer is already lowering the price of fuel, with the motoring body hoping that others will take note and follow suit.

"Many of the more expensive retailers have brought their prices down to try to revive sales, one telling the AA that 'our owners say we need to be more competitive'," said Paul Watters, head of AA Public Affairs.

The average cost of petrol now rests at 117.46 pence per litre, a slight fall from the mid-July highs in excess of 120 pence.

Overall fuel costs over the bank holiday may be compromised by congestion, however, as the AA recently confirmed that major roads are expected to see the highest traffic volumes of the year over this period.