UK fuel prices falling

摘要

The average price of diesel has fallen below 113 p/1 for the first time since January 2010, according to information group Experian Catalist. Diesel had been more expensive than petrol in the UK for 14 years, but its price is now falling more quickly than petrol, Commenting on this latest pricing development, David Hunter, an energy industry analyst with Schneider Electric, says: 'The forces of supply and demand have been tussling for a while. Faltering economic growth in resource-hungry countries like China is keeping a lid on demand for oil, while on the other hand there is a supply glut. These supply excesses are being driven by the rising US production holding steady despite the falling value of oil, while OPEC (which controls around a third of global supply) is "keeping the taps open" to protect its market share.'