UKcars

This month saw Oil drop to under $40 per barrel - an all time low this year. Over the last month OPEC have slowed oil production, in a desperate attempt to push the prices back up. It looks like they have succeeded and oil will infact be rising again - not to the extent is had done earlier in the year which led to increasingly high fuel prices here in the UK (upto 135p per litre of diesel).

Experts are now forcasting that Oil will rise again to around $50-$60 per barrel over the next few months. If prices stay relatively low over 2009 we should still see more cuts in fuel prices at the pumps. We’re still paying far more than we were in 2006 & 2007, when oil prices were higher than they are now.

…Tim

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