For the first time in more than a year, the price of a barrel of oil slipped on Thursday, October 16, 2008, below $70 US. In New York, crude oil features for November fell as much as 8 percent or to put that in dollars, $5.97, to $68.57 a barrel before closing at $69.85. Oil prices have been rapidly declining since spiking at an alarming $147 a barrel in July, 2008, when there were widespread fears that prices could go over $200 a barrel.
However, it seems that the economic downturn on both sides of the Atlantic has evidently put the brakes on the ‘oil-rally’. Our question to our international readership (sic..) is whether or not you’ve seen prices going significantly down at the petrol pump, and if so, how much do you pay now? Have your say in the comment section.