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The price of diesel has fallen, but it’s taken a corona virus for that to happen

The price of diesel has fallen, but it’s taken a corona virus for that to happen

The price of fuel has fallen dramatically because there is less demand for the resource across China as the country struggles to contain the coronavirus.

China is the second-biggest oil consumer in the world but is seeing a reduced consumption as travel is restricted due to the outbreak of the deadly virus.

This reduced demand could see diesel prices falling by around five pence per litre over the coming weeks.

There had been fears that oil prices would skyrocket after tensions between the US and Iran spiralled out of control. However, prices had remained static.

Fair pricing at petrol pumps is an ongoing issue, with many claiming petrol stations unfairly punish motorists for short term oil price increases.

The price of oil is now less than $60 a barrel for the first time since October last year. It’s a shame it’s taken the outbreak of a deadly virus for that to happen.

 

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