This week the price of oil dropped to a 2-year low according to Downstream Today.
On the face of it, that’s good news as it will . . . probably . . . eventually . . . translate into cheaper petrol prices.
However, the reason that it’s gone down is due to a poorer economic outlook including weak Chinese economic data which has cut the prospect for demand.
So although we could be getting more for our money at the pump, the longer term outlook for recovery and jobs isn’t quite as positive.
Let’s hope things pick up quickly.