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Fuel prices fall after record high

Date: 23 August 2006

Petrol and diesel prices have dipped after hitting a record high in the past month.

The Middle East conflict and production problems in Alaska saw oil reach $78.64 a barrel, which led to unleaded hitting a peak price of 98.5 pence per litre and diesel topping out at 99.7ppl in the UK.

However, the average price for the month stood at 98.2ppl for unleaded and 99.5ppl for diesel. These figures still represent an increase of 0.7ppl and 0.4ppl respectively on last month.

Supermarkets continue to undercut the national average price, though, with their own figures of 96.7ppl for petrol and 98.4ppl for diesel.

Compared with the rest of Europe, fuel prices in the UK work out as fifth highest after Norway (highest), Holland, Belgium and Denmark.