The oil price plunge continues and this is good news for motorists and anybody that is running standby or emergency generators.
Not so long ago we were paying over £1.30 for a litre of fuel at the pumps, recently, prices have dropped as low as £1.15 with supermarket chains promising further drops on the way.
The Guardian newspaper recently reported the price of Benchmark Bent crude oil has plummeted by 47% since June. Barrels of oil are now priced at $61 and this is the lowest it has been for 5 and a half years.
Cue cheers of jubilation!
Reap the benefits
Bet you’re thinking, “about time” right now aren’t you?
Motorists are going to feel the benefits of lower fuel prices. Motoring groups have been lobbying for cuts on fuel costs in the UK for quite some time so this should appease this particular community.
Householders should feel the benefit too if prices continue to drop. Falling gas prices will help to lower utility bills if energy providers pass on the savings straight away.
Passengers flying abroad should see the cost of airline tickets reduce as well. This might take a while though as the aviation industry buys fuel in advance so it could be months before any reductions are witnessed in this industry.
Enjoy it while it lasts
For most of us though we should enjoy this brief piece of good news. Make the most of the price reductions in fuel and savour lower energy bills where possible.
Lower fuel costs are good for our business at Generator Power. Like most companies we rely on our fleet of vehicles to deliver generators to site and we also provide a fast and efficient fuel-management service for customers too.
Fingers crossed, the price of fuel will remain stable for some time. We’ve been paying over the odds for petrol and diesel for way too long!