So back in May of this year whilst on the usual lunchtime stroll around the block with two of my colleagues I rather confidently, and with a reasonable degree of hope bet that the price of a litre of unleaded would be £1.10 by Spring 2015. Now I must admit the prediction was based upon very little expertise and primarily upon the observation of the rate to which the cost of a litre was decreasing at the time at our local Asda forecourt, which has long been the cheapest supplier for miles around.
Unbelievably, and to our joy costs have not only already hit £1.10.7 at the Asda Yeovil forecourt but there are also much more qualified predictions from the likes of
This is very welcome news to say the least for those who have seen little or no increase in wages, and in real terms decreases over the period where fuel prices both at the forecourts and in household energy bills have seemed to endlessly increase.
Yipeee for cheap oil…
Of course its not just rural commuters in the west country that are benefiting from putting less of our hard earned cash straight into our fuel tanks. Consumers at large are benefitting from the remarkable fall in oil prices. Lower fuel costs for transportation of goods and services mean lower prices, as seen in the record levels of inflation as we come to close of 2014.
Ironically the result of all this is that consumers tend to spend the freed-up cash which in turn stimulates the economy and UK growth, pretty much what gorgeous George and the rest of his cronies have been trying to do for the last four years. If like me you’re somewhat sceptical of all this talk of wage rises recently, which from personal experience I think is a load of bullshit then the continuing decrease in fuel costs is what helps you and me right now. The falling costs have and continue to put vastly more money in our pockets than both the government and employers are ever likely to offer.
