Brent crude prices fall below $30 for the first time since April 2004 and could make fuel cheaper than water
Petrol will soon cost less than bottled water as the relentless decline in oil prices sends fuel down to 86p a litre, it has been claimed.
Brent crude fell to below $30 a barrel for the first time since 2004 on Wednesday evening - and has fallen by more 73pc since reaching highs of $115 last summer.
Motoring group RAC said pump prices now could fall back to levels last seen in the aftermath of the financial crisis in 2009, if the commodity plunges to as low as $10, a forecast made by Standard Chartered bank earlier this week.
At 86p, petrol would be cheaper than most supermarket varieties of bottled water, said Simon Williams, spokesman for RAC.
“Motorists can expect some really low fuel prices in 2016,” said Mr Williams.
Analysts said prices would fall further as worries about the state of the global economy and oversupply overwhelmed the market.
The collapse in oil prices has been driven by Opec’s decision to maintain record production in the face of dwindling demand.
http://www.telegraph.co.uk/finance/economics/12098469/Oil-price-crash-means-petrol-could-become-cheaper-than-bottled-water.html
