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Petrol prices could drop due to Scottish referendum result

Date: 22/09/2014 12:18:30
Category: Fuel Efficiency
Author: Laura Varley

The Scottish referendum result could make petrol prices drop by at least 2p a litre, the Automobile Association (AA) has said.

In the run up to the referendum result the value of sterling declined, meaning petrol prices also rose slightly - even though world oil prices fell during this period of uncertainty. Now Scotland has decided to remain part of the UK, the pound has increased in strength again and the AA predicts that fuel prices will follow suit and drop in price again, reports scotsman.com.

Edmund King, AA president, said that in the morning after the result was announced, the pound rose to more than 1.65 against the dollar.

"We believe that if the pound stabilises at these higher levels we should be seeing at least a 2p per litre reduction in pump prices which will be great news for everyone north and south of the border," he stated.

In mid-September, petrol prices rose to an average price per litre of 129.23p, up from 128.72p on August 31. Diesel also rose in price, from 133.02p to 133.44p on average during the same period, reports eveningtimes.co.uk. If the pound had not decreased in strength during September, average petrol prices would now be around the 127.5p a litre mark - the lowest price since January 2011.

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