Bumper fuel savings for UK drivers in eurozone

British holiday-makers taking their cars to the continent for their annual holidays this year are in for a bumper saving in fuel prices – thanks to the fall in the euro against sterling.

The French Alps, cheaper for British holiday makers buying fuel in eurozone this year. Image by Pineapple XVI / CC BY 2.0

Prices at the pumps across the eurozone have dropped by up to 25% thanks to the currency discrepancy and the fall in crude oil prices  last year. The Daily Telegraph reports that passengers on air flights will have to wait for a number of months before the fall in crude and the euro differential kicks in and is reflected in air ticket prices. Sterling is almost a third stronger against the Euro than it was six years ago.

Ireland has had the greatest reduction in prices according to Post Office Travel Money research. There were also significant reductions in both France and Spain, two popular self-drive destinations for UK visitors.

Unleaded petrol in France now costs 99p a litre, down from £1.30 last year, while drivers in Spain can save 28p over this time 12 months ago. In all, motorists will encounter petrol prices at under £1 a litre in five of 12 countries surveyed, including Germany and Austria.