Wholesale petrol and diesel prices have started to drop offering motorists a glimmer of hope that pump prices will fall too.
On Monday wholesale petrol prices stood at 75.8p per litre while diesel cost 89.8p, according to figures from roadside assistance firm AA. On Friday, though, following a dip in oil prices the cost of petrol had fallen to 67.7p and diesel to 77.3p per litre at wholesale.
New pump price records have been set daily in the past week with the average cost rising 5.4p per litre since last Sunday. This has added nearly £3 to the cost of filling up a typical 55-litre tank in a week bringing the bill to just over £88.50, the AA said.
