Litre of petrol even closer to under £1

Petrol prices are continuing to fall

Petrol prices are continuing to fall

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Petrol prices in Arbroath are edging closer sub £1 per litre as the price of crude oil continues to fall.

According to petrolprices.com, Asda at the Westway Retail Park is the cheapest petrol locally with a litre of unleaded priced at 103.7p.

Morrisons Superstore has a litre at 104.9, while the Cairnie Road Filling Station sells it at 106.9p

The most expensive litre in town is at the Golden Lion where a litre will set you back 108.9p.

A barrel of crude oil fell yesterday to below $49 as North Sea Brent and US Crudedipped towards near six-year lows.

Analysts are tipping petrol prices to fall even further.

Bank of America Merrill Lynch cut its crude oil forecasts, saying Brent could go as low as $31 by the end of the first quarter of 2015. “Stocks all over the world are building at a very fast rate,” the bank analysts said in a note to clients, saying very high inventories would make any sharp recovery in prices much less likely.