Petrol Could Soon Be Cheaper Than Bottled Water

It's time to start dusting off your V8s. The price of oil has been diving recently, with savings passed on to drivers at the pumps... if it carries on at the current rate, it won't be long before a litre of petrol costs less than a litre of bottled water

Darren Cassey

14 Jan 2016

Petrol Could Soon Be Cheaper Than Bottled Water

Petrol prices have been tough on drivers over the past few years. In the UK at least, refilling your car had become prohibitively expensive for many who enjoy the kind of cars that upset Greenpeace. But it could be time to fire up your poor, neglected performance car, because the price of petrol is continuing to drop. In fact, plummet might be a more accurate description.

According to a report by the RAC motoring group, the price of petrol at the pump could drop to around 86p per litre, which would be less than a litre of bottled water costs at most supermarkets. It’s all because the cost of Brent crude oil has dropped to $30 a barrel - the lowest since 2004, and 73 per cent lower than its high last year - and is expected to continue to fall to just $10.

The declining cost of Brent crude oil over the last month, via Bloomberg

The cause of the drop in the price of oil is attributed to the fact that the USA’s stockpiles are ridiculously high, driving down demand. According to The Telegraph:

The US Energy Information Administration said its gasoline stockpiles grew by another 8.4m barrels in the week to January 8, higher than analyst expectations of 1.6m.

While this is bad news for oil companies, it’s great news for car enthusiasts. Now is the time to get that dream car you’ve always wanted…

Comments

We will wait for it for years in Turkey, I guess

As someone who drives a 5 liter V8, I really hope this is true.

Meanwhile in Norway: Oil price goes up and gas prices go up, oil price goes down and gas prices stay the same ._.

Norwegian logic ;)

Not only Norway, Poland too.

We have a similar system in Canada, except when oil prices go down, gas prices seem to go up. They also seem to fluctuate randomly where in the morning gas could be $0.85/L then by the evening it will be $0.95/L.

Why the hell is bottled water so damn expensive in the UK? In Germany it’s 0,13€/l which is about 0,10p/l….

Mean while in Saudi Arabia XD

Just imagine how cheap it will be in America. This is a good thing and a bad thing.

This is a good thing because low gas prices means less cost at the fuel pump. This is bad because it will make it less of an incentive to buy hybrids and EVs…which we could use right now.

Where i live in the states, petrol just hit $1.99 a gallon. I could buy a pizza, or take my friends 5.0 mustang for a thrashing….. i know what my plans are for later