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When will petrol prices fall after oil drops to lowest amount in months?

Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleOil prices have fallen below their levels recorded before the Iran conflict, as traders anticipate that an increase in crude supplies will mitigate ongoing geopolitical risks in the Middle East. Brent crude, the international benchmark, dropped to $72.24 a barrel on Thursday, which is lower than the $72.48 closing price observed just before the US and Israeli strikes against Iran in late February. This decline represents a significant reversal from the sharp price increases experienced during the conflict, which had initially raised concerns about severe disruptions to global energy markets. The price of a barrel of oil reached a peak of $120 in April, a figure that was notably below the most pessimistic forecasts made by some analysts. Motoring organisations indicate that it typically takes approximately ten days for reductions in oil prices to be reflected in the cost of fuel at petrol pumps. In fullOil prices fall below pre-Iran war levels as fears grow of global crude oversupplyThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

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