A recent survey has revealed that average petrol prices have seen the biggest drop since 2008.
Petrol prices have fallen by 5.49p over the past month compared to 11.5p over a similar period back in 2008.
This recent reduction has been attributed to the lower wholesale price of petrol.
However it is believed that further reductions are unlikely due to limited refinary capacity in the UK and the likely increase in the strength of the dollar after the resolution of the recent US budget crises.
This should mean that the cost filling up a small car has fallen by around £2.74, with larger vehicles saving in the region of £3.84 at the pumps.
This has to be good news for all UK motorists hoping to save money in the run-up to Christmas.