Motorists set for good news at the pumps

Motorists set for good news at the pumps

Motorists could be in for some rare good news.

Petrol and diesel prices have been coming down in recent weeks, with oil prices at their lowest point in years.

Now events on the Chinese stock markets could bring even lower prices.

The Irish Petrol Retailers Association has said prices have dropped by over 50c a litre in the past two years.

Spokesman David Blevings believes there could be further falls.

“It does take two to three weeks for it to feed into the retail supply chain,” said Blevings.

“So there is another discount coming in. The good news is Goldman Sachs have forecasted that it could go as low as $20 a barrel and that looks likely now because the Chinese economy has slowed down.”

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