Oil Still A-Tumbling

By John Swindells 19 Dec 2008 | Comment
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Despite OPEC's best efforts, a supply glut is causing the crude price to keep falling. It is now firmly below $40, and today is actually under $36. Interestingly, a BoilerJuice spot check shows that the consumer price is rising right now; it's back above 40p/L (for 1000L), whereas a fortnight ago it was 36p/L. There was a short-term crude price increase around August, and that is probably now filtering through.

If you can, you may be best holding off as long as you can as the domestic price should keep falling as it catches up with the ever-falling crude.

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