I am no expert on the Oil industry but I note with some frustration that the price of petrol on my local forecourt remains stubbornly over £1 a litre.
This is despite the fact that the crude oil price has largely been falling since very early in January and fell another 3 % today at under $90 a barrel.
I am sure the official argument is that oil refining is a long process and it takes a long time for price falls to filter through the system.
It is strange that that argument never applies in relation to price rises.........
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