Follows sharp fall in oil prices and strength of pound
There's been good news for motorists on the Island this week with petrol and diesel prices dropping sharply.
Most of the Island's EVF filling stations have reduced the price per litre by five pence for both fuel types, taking the price down to £1.38.
It follows sharp falls in the price of oil and the current strength of the pound in the currency markets.
Petrol prices throughout the UK are now at their lowest levels for three years according to figures from the RAC.
The average price for a litre of unleaded fuel in the UK now stands at £1.35, considerably lower than the £1.92 recorded following Russia's invasion of Ukraine in 2022.
Some areas of the UK are seeing prices as low as £1.26 for unleaded petrol.
The good news is that the RAC believes fuel prices could drop further, reflecting lower wholesale costs to retailers.
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