Petrol Is Now The Cheapest It's Been In Years
Petrol prices are falling fast. Supermarkets are leading the downward charge, with Asda slashing the prices of petrol and diesel by 12p a litre, and Morrisson’s knocking off 8p. Other forecourts aren’t far behind - have a look at the petrol stations in your local area, and you’ll find prices around 102 to 103p per litre to be common.
Yep, close to the mythical £1 per litre mark, which hasn’t been seen since a very brief spell in 2016. Costco fuel stations are already selling petrol for 99.9p a litre at the time of writing (for people with a membership card), and other companies may well follow suit.
It’s the same story on the other side of the pond, with the average price per gallon of gas dropping to $1.99 at the end of March, the first time it’s dipped below the $2 mark in four years.
All of this all down to a crash in the price of crude oil. In March, talks between Saudi Arabia and Russia to decrease production - to account for the drop in demand amidst the Coronavirus pandemic - faltered, which the former nation responded to by upping its output.
The price of a barrel of oil quickly halved and fell as low as $25, the lowest it’s been since 2002. Currently, it sits at $33.70, with the mere talk of Opec (of which Saudi Arabia is a member) curbing production pushing prices back up again.
Cheap-ish fuel might not last for long, in other words, and with all but essential journeys currently banned in the UK to restrict the spread of Covid-19, most of us won’t be able to benefit all that much while prices are down.
Growing up on a diet of World Rally Championship highlights and lengthy Gran Turismo 2 sessions, a life in cars was as good as inevitable for Matt.
Comments
In Switzerland too the price for fuel has dropped, from prices around 1.70-1.80 sFr. per liter to around 1.50 now, and that’s for super 98. In some parts of the country prices have even gone down into the 1.30s.
It’s a great time for car enthusiasts on a Budget!
I heard it was heading down to like £1 per litre or something, the last time that happened it was well I think somewhere in the late 1990s or early 2000s, but its been years since its been this low….
I’m still having to go to work so any drop in price, regardless of how fleeting, is much appreciated…. Especially when one’s car has a 1jz-gte. #moreturbowoosh
I remember around 2006-2007 the price was about 1.50$ in Canada and now 0.78$! I still can’t believe it
I just filled up a tank in Toronto for .67$, absolutely insane
Super E5 used to be around 1,36-1,42€ per litre where I live (Germany), when I drove to work today it was at 1,16€. Couldn’t believe my eyes, but couldn’t fuel up either or I’d be late to work.
I recently payd 1.26 for Super Plus in germany good times for liking cars
Echt krass. In Hochzeiten wird’s hier über 1,60 und jetzt unter 1,20
In österreich (linz) hab ich letzte woche für 0.998 getankt.
Less than 1.00 eur in Baltic States
locally in lakewood colorado it’s 1.68 over the usual 3.73
Before all this in latvia, E95 was 1.27eur/l, E98 1.32eur/l, diesel about 1.19, now its dropped to E95 0.957eur/l, e98 0.997, diesel 0.867eur/l, its fascinating, sadly there’s nowhere to go.
Thumbs up for Mexico where a service agent fills your tank, is not allowed to fill it by yourself!
Gas in my home state of oregon in the us still isnt cheap and hasnt gone down at all since this began. Honestly a little pissed about that
Really cheap in Europe ;)