Several times over recent months, we’ve speculated on whether petrol prices will drop as low as the “magic” one pound per litre.

Experts have been divided on the issue, with The RAC typically seeming far more optimistic than The AA or the Petrol Retailers Association.

However, reality seems to be beginning to favour the optimists, with a report today in The Independent suggesting that a fall to £1 per litre could even happen before the end of January. Some analysts think that filling up may soon cost as much as £8 less than it did at the start of the year.

As always, there are some dissenting voices, and once again it’s the AA showing pessimism. Their spokesperson is quoted as saying that global oil prices need to fall by another third before the £1 litre will be achieved, and that weak Sterling makes it even less likely.

Even so, with widespread price wars continuing, and some supermarkets said to be treating fuel as a “loss leader,” the £1 litre could soon become a reality. The Metro newspaper is today saying the same thing too. Whether it happens or not, UK motorists are certainly being given some lofty expectations!

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