Petrol price at nine-month low

PETROL prices are at their lowest for nine months, despite the global oil price hitting record prices on global markets this summer.

Diesel, which makes up 80% of sales, was costing an average of €1.3415 in French filling stations last week against €1.3625 the previous week. It was the lowest price of the summer.

Petrol, too, fell around two centimes to its lowest level since December 2012 with prices of €1.5013 on average for SP95 against €1.5186 the week previously. Prices for SP98 showed a similar fall, from €1.5845 to €1.5664.

Part of the reason was down to the euro increasing in value against the dollar – with oil being priced in dollars per barrel.

However, prices also eased due to the end of the threat of western nations launching military action in Syria and an improvement in relations between Iran and the west. Prices for a barrel of the reference Brent crude fell from $115 to $107.
Photo: Walker_M