Drivers are being warned to fill up their tanks now as the price of petrol is expected to increase in the New Year, after a cheap run in the Christmas lead up.
According to Compare the Market analysis, fuel costs will begin to rise from today, becoming even more expensive in January.
Experts do have hope for declining petrol prices later next year, despite an expensive January.
“I wouldn’t cross my fingers for any discounts or any sales over the Christmas period when everyone is travelling,” The Motley Fool Chief Investment Officer Scott Phillips said.
“The oil companies are making a pretty penny, but hopefully it continues to come down.
“I am reasonably optimistic … but if you think about the pressures – the oil price coming down, the dollar going up – if, fingers crossed, those two things remain in place, we actually may see some year-on-year falls in the oil price.”
(SKY NEWS)
