Blog
Petrol-Diesel Price Difference Narrows
30th June 2009
Crude oil prices are heading towards $75 a barrel as speculators bet on a stronger-than -expected global economic recovery and naturally prices for fuel on the forecourts are heading northwards too. But an interesting feature of the latest price changes is the narrowing of the price premium that drivers with diesel-fuelled vehicles must pay. Apparently the closing of the gap is due to a relative abundance of diesel fuel stocks on the international market.
The name comes from German inventor Rudolf Diesel, who built the first diesel-powered engine in 1892
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.