"Petrol prices at three-year low" - AA

"Petrol prices at three-year low" - AA

Petrol prices have fallen to their lowest in three years, says the Automobile Association.

The AA said prices averaged 129.46p a litre in mid-March, nearly 9p cheaper compared with a year ago when the average was 138.42p a litre.

They also added that recent wholesale cuts suggested there could be another fall of up to 2p in the near future.

Diesel prices averaged 136.59p a litre, their lowest since July 2012.

The news comes in after the Chancellor, George Osborne, unveiled another fuel duty freeze in his annual Budget on Wednesday.

The cheapest petrol is sold in Yorkshire and the Humber whilst London and the West Midlands are the cheapest areas for diesel at 136.3p a litre. Scotland is most expensive at 137.3p.

A source at Skipton Business Finance said: "This is welcoming news for the portfolio of haulage and courier businesses we fund."

"Whilst we continue to be successful in funding them through our highly flexible Invoice Factoring and Invoice Discounting solutions, any news whereby our clients can save money is fantastic."