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25 Apr 2024 13:58
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      Home > News > Motoring

    Could we be looking at cheaper petrol soon?

    Could we be looking at cheaper petrol soon?


    Oil prices, which had surged to their highest level in over three years last week are now slumping.

    US crude oil futures have dropped by nearly 10% to trade around $66.50 per barrel, down from about $73 last week.

    The sharp price decline was triggered on Friday by Saudi Arabia, which says it's in discussions with other OPEC nations to pump more oil to ease global supply concerns.

    OPEC oil producers and Russia are due to meet in Vienna on June 22 to discuss easing self-imposed supply caps, which have been in place since 2017.

    © 2024 Newstalk ZB, NZCity

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    The Blues' teamsheet to face the Reds in Brisbane on Saturday is subject to plenty of change More...

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