Fuel prices: falling faster than ever

Average fuel prices have fallen by a record amount over the past month and at a rate faster than the speed at which they rose during the summer, according to a new survey.

According to research by the AA, the average price of a litre of unleaded petrol in the UK has fallen from 106.4p in October to 94.9p, while the price of a litre of diesel has dropped from 117.7p to 108.8p.

However, this is not such good news for diesel users: the price of a litre of petrol has fallen at a faster rate than that of diesel, widening the price gap between the two fuels to 13.9p, a rise of 2.5p in the past month.

Fuel companies say the price of diesel is falling more slowly than the price of petrol because demand for it, particularly from industry, is greater.