PETROL will drop below £1 a litre across the country within weeks, ministers predict as they increased demands on oil companies to pass on falling prices.
Treasury minister Danny Alexander told the cabinet that the latest falls in the global oil price should see average prices hit the £1 mark at the pumps.
And he called on drivers to use their buying power to put pressure on fuel firms refusing to respond.
New figures today showed the average petrol price in the last week was £1.06, the lowest since November 2009 and down 10p in just four months. Diesel is down to £1.14 per litre.
Mr Alexander briefed the Cabinet on the latest Treasury forecasts, and the expectation that the price will hit £1 within less than a month.
While he welcomed the moves so far from oil companies, he insisted they had still failed to pass on the full benefits of dramatic falls in the price of crude oil.
