Filling stations cut fuel prices

The cost of crude oil has fallen to less than $70 a barrel

Filling station fuel prices have dropped to the lowest level in Guernsey this year.

After climbing through the £1 a litre mark in July, many forecourts are now selling unleaded petrol between 75.9p and 88p per litre.

Diesel is selling between 85p and 95p per litre.

However there are some concerns the price could go back up if the oil cartel Opec reduces production rates to stabilise falling crude oil prices.

The cost of crude soared to about $140 a barrel earlier this year, but it is now less than $70 a barrel.

In the UK a price war is under way after major supermarkets said they intended to slash their petrol prices to as low as 94.9p a litre.