108.9! Blimey, it was 102.9 in Ingleby Barwick today for 99 RON and that is usually 1-2p more expensive than the station at Kingston Park outside Newcastle. Plus I see Tesco are doing the 5p / litre promotion on £50+ shop spend again this weekend, means 99 RON will be under a £1 per litre since..... I don't remember when.
As for OPEC reducing production, don't get too conerned about increased prices as it is primarily due to the oil market speculators now dumping their millions of reserve barrels on to the market that they bought when it was cheap pushing the price up so they could flog it back to the market when it was north of $200 per barrel for a healthy profit. However that isn't going to happen so they are offloading for what they can get to balance their books because of the global downturn. If anything it is a good thing because it means worl oil reserves will just last that little bit longer for us unenvironmentally conscious to drive our demon V8's around!
