Oil prices fall to 18-year low but savings not passed on to motorists

  • 📰 TheSun
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 61%

United Kingdom Headlines News

United Kingdom Latest News,United Kingdom Headlines

OIL prices have crashed to the lowest levels seen in 18 years as demand plummets due to the coronavirus outbreak. But despite the falls, prices at the pumps are not reflecting these savings, drivin…

As drivers are making less journeys, they’re not buying as much petrol and so aren't actually able to take advantage of the lower prices.

Laura Suter, personal finance analyst at investment platform AJ Bell, said: “It’s also down to petrol stations whether they choose to pass on the drop in the oil price. “At the start of the lockdown we saw some big cuts from the supermarkets in their petrol prices, and they largely lead the rest of the market in any cuts to prices.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

They're very quick to pass it on, when it's the other way!!!!

Wonder *why*

Is it ever passed on

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 64. in UK

United Kingdom Latest News, United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

NCIS season 18: How will Gibbs change in NCIS season 18?NCIS season 17 has finally come to an end following an emotional finale. But in what way will Gibbs be different in the next series?
Source: Daily Express - 🏆 26. / 68 Read more »

Oil price rebounds as Trump stokes tensions with Iran – live updatesMarriott Hotels has agreed to place 1,500 staff on zero hours contracts onto the Government's job retention scheme following criticism from unions.
Source: The Telegraph - 🏆 41. / 63 Read more »

FTSE 100 LIVE: Oil price crisis as Brent crude tumbles to more than two-decade lowOIL PRICES tumbled again on Wednesday amid markets struggling with a massive crude glut in the face of the coronavirus outbreak.
Source: Daily Express - 🏆 26. / 68 Read more »

Donald Trump downplays historic oil price drop as a ’short term’ problem – videoTrump says historic US oil market collapse is ’short term’ problem I think he's right short term problem, long term solution TrumpCrash and the lies
Source: The Guardian - 🏆 84. / 53 Read more »

UK petrol prices to stay steady despite global oil price slumpRAC says motorists likely to miss out on cheaper fuel as filling stations try to stay afloat Standard Of course they are.. I went to the pump yesterday and they gave me cashback
Source: The Guardian - 🏆 84. / 53 Read more »

Pound to euro exchange rate plummets to two-month low due to coronavirus & oil price dropTHE POUND to euro exchange rate has slumped to a two-week low as GBP struggled to cope as crude oil prices collapsed. Coronavirus remains in focus, too - so what does this all mean for travel money?
Source: Daily Express - 🏆 26. / 68 Read more »