Petrol drops to £1 per litreDecember 2015 Oil price| Brent crude | Opec | Supermarkets Actually, the price has fallen below £1 per litre, and that's the lowest level since 2009. Currently, the ASDA supermarket chain (owned by the US giant Walmart) has ratcheted the price down to 99.7 pence per litre. According to an ASDA spokesperson, this is simply a "weekend promotional deal". Which might be true. But analysts reckon that the deal could well last a very long weekend, which might mean way into the new year. Rival store Morrisons is close on ASDA's heels at 99.9 per per litre, but other supermarket petrol stations (i.e. Tesco and Sainsbury's) are still a few pence above £1. However, on the supermarket battlefield, brutal campaigns are won and lost over a few pennies. And when it comes to fuel, it's well understood that some drivers will travel miles and pay pounds to save a few bob at the pump. Diesel prices have also fallen by around 1p per litre. What's driving down prices is largely (but not entirely) the fall in the cost of Brent Crude oil. It's just dropped below $40 (roughly £26) per barrel, and it hasn't been there for around 7 years. Last summer, the price of oil had been as high (relatively speaking) as $110 (£72) per barrel. In November 2015, OPEC oil producers pumped 32 million barrels per day from the ground and from beneath the oceans. That's the highest amount since 2008. According to some pundits, production should be cut to maintain prices and the all-important stability. But the OPEC oilheads disagree and are playing a worrying game with the markets, ever intent on bolstering revenues in a world of falling demand, particularly from emerging markets. UK fuel prices are still 10 - 20 percent higher than some of mainland Europe (notably Spain). And while the average rider or driver will be pleased to get literally more bang for his buck, you might want to consider the fact that falling oil prices simply remind us that the economy is still is serious trouble and doesn't appear to have a viable exit strategy. — Del Monte | 
December 2015 Classic Bike News Ian "Lemmy" Kilmister: 1945 - 2015 "Motorsport" CBE for John Surtees Rare Vincent 2-stroke Uniflow Engine Mick Grant replica 961 Norton racer Old Biker's Mantra T-shirt from Sump Evel Knievel's XL1000 movie bike H&H Chateau Impney Sale results Broughs of Bodmin Moor to sell Flying Tiger Moto Man poofy soap Petrol drops to £1 per litre Porsche Sunbeam S8 special to sell Ural gets on the scrambler trail Anthony Valentine: 1939 - 2015 Huge UK government tax disc loss Optimate 5 Voltmatic charger on test Watsonian Squire T100 sidecar Popular Sump features Bike guides and reviews (new stuff and classics)
BSA Golden Flash eBook. £4.99.
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