The cost of motoring became considerably cheaper over the weekend as the price of fuel dipped below £1 per litre for the first time since December.

Supermarket giants ASDA and Morrisons gave motorists some rest bite by dropping the price of unleaded to 99.9p on Thursday, with several competitors following suit over the weekend.

Shell, BP, Tesco, Sainsbury’s, Texaco were amongst the retailers to drop prices over the weekend in light of a recent drop in oil prices.

Savers can look forward to a welcome boost as the government looks to put confidence back into the banking system.

Savers, who were covered for the first £35,000 of savings in any one financial institution in the event of a collapse, will now see that level of cover rise to cover savings of up to £50,000 under new plans due to be outlined later today.