Moray motorists are already reaping the benefits as fuel prices fell again yesterday to their lowest prices in six years.
Asda, Tesco, Sainsbury and Morrisons all dropped the prices of a litre of unleaded to well under £1.10 – with the Asda forecourt in Elgin posting 107.7p a litre on New Year’s Day.
Diesel has also fallen to 114.7p in what is further reaction to the slump in world oil prices – the latest price cut the 13th Asda has brought forward since the end of September.
However, hopes that prices would fall below the £1 a litre mark is being dismissed by one motoring organisation as being “unlikely”.
An AA spokeswoman said: “The UK average price is currently 113p a litre but these welcome decisions on making further price cuts will eventually filter down to some other retailers.
“We expect the average price will fall further in 2015 but just how far is anyone’s bet.
“Current indications are that the magical £1-a-litre average price across the UK is looking unlikely in the short term.”
However, a spokesman for rival motoring organisation the RAC is much more upbeat on further falls in the average fuel price, insisting that £1 per litre is “a very real prospect”.