PETROL prices are expected to fall this weekend below 175p per litre.
Falling by 16.5p, a car will cost £9.08 less to fill.
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Pump prices will be back to where they were on the Jubilee weekend at the start of June.
On Wednesday, petrol averaged 175.24p a litre, having been 179.80p a litre a week ago and 135.30p a litre this time last year.
Diesel is now down to 185.90p a litre. This time last week, it averaged 190.01p a litre and 136.56p a year ago.
Costs might also fall by a further 15p in coming weeks.
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Wholesale costs have fallen by 30p a litre, having peaked at the beginning of June, and that is without including the VAT savings.
For families with two cars who do two 50-litre refills a month, the price fall will save them roughly £396 a year.
The fall, however, is only halfway towards where prices should be heading this month.
The Fuel Price Checker in Northern Ireland, which has fired up price competition in that part of the UK, shows that at least one fuel station in Belfast has broken below the 160p a litre mark.
That is where the UK average should be heading in the coming weeks.
Should this happen, families could save around £720 on their petrol bills.
Luke Bosdet, the AA’s spokesman on pump prices, said: ““Lower pump prices are taking the strain off family budgets at present and that benefit should eventually double to at least 30p a litre off the peak price of petrol in July.
“However, increases in domestic energy prices are likely to overwhelm those savings heading into the winter,
“That is why the UK needs the fuel trade to pass on the savings as quickly as possible.
“The 20p-a-litre fall in diesel wholesale costs should also be contributing to lower transport costs that will hopefully roll back some of the inflation on goods and services.”
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