The article discusses a recent analysis indicating a decline in fuel prices for petrol and diesel due to a drop in wholesale costs. The RAC forecasts that average prices at the pump could decrease by at least 6p per litre for petrol and 3p per litre for diesel if retailers pass on these savings. Amid five months of rising fuel prices, the decrease in oil prices, which has dropped from over 80 to under 70 US dollars per barrel, suggests relief for drivers is on the horizon as retailers are expected to adjust prices accordingly.
Drivers have had to endure five months of rising prices, so it's good news wholesale prices have fallen significantly, and forecourt totem signs should soon be reflecting this.
Average fuel prices have reached 139p per litre for petrol and 146p per litre for diesel. The RAC believes price cuts are possible because the cost of oil has dropped from above 80 US dollars in mid-January to below 70 US dollars.
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