The last thing that the consumer needs at this point is to be ripped off by the large oil companies. Oil prices have dropped from a peak of $147 in June to around $86 dollars per barrel yesterday. At the pump, I was paying almost £1-20 per litre. I am still paying an absurd £1-07.
I know that it takes some six weeks for prices to filter through but it is NOW time that petrol was falling to around 80 pence per litre!
[15/10/08. I am now paying £1-03 per litre and my economic adviser reckons that my 80p target is unreasonable and that it should be adjusted to 90p as this is the best we can possibly hope for.]
