Naomi PaulOil Price Drop to Benefit Australian Motorists
January 11th 2007 08:46
The Sydney Morning Herald reports that US crude oil prices have fallen to a 19 month low.
February crude fell $US1.62 to $US54.02 a barrel, due to milder temperatures over the US winter and better stockbuilding and inventories for petrol. The fall will eventually benefit Australian drivers. It takes a minimum of seven days for the price drop to flow through to pumps.
Crude oil prices have fallen $24 a barrell since their peak in September 2005.
February crude fell $US1.62 to $US54.02 a barrel, due to milder temperatures over the US winter and better stockbuilding and inventories for petrol. The fall will eventually benefit Australian drivers. It takes a minimum of seven days for the price drop to flow through to pumps.
Crude oil prices have fallen $24 a barrell since their peak in September 2005.
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