Lower oil prices
Financial markets are in turmoil, and it seems no country will emerge unscathed. But wait! There's an upside for motorists...
Banks and other financial institutions are trying to steady themselves in the midst of the current storm. Consumer confidence is down, with most folks ready to scale back on purchases.
It's not all doom and gloom. As of last Monday, the price of oil fell to US $87.81 per barrel, a far cry from its peak of $147 per barrel in July.
Apparently, demand for the black gold is so low that even China has not bought oil for two months, and has considered selling some of its stockpiles.
Speculators however, are predicting that OPEC will lower their production numbers by year end. Therefore, motorists should be able to enjoy lower petrol prices - for now.
Credits: JRC
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