Petrol prices could fall by as much as 8p per litre in the coming months, according to an economic thinktank. The Centre for Economics and Business Research (CEBR) has made the prediction based on crude oil price forecasts.
CEBR economists believe that the price of crude oil — currently at $107 per barrel — will fall to below $90 per barrel by 2024. They also expect demand for the fossil fuel to fall, and the American government to lean on Middle Eastern nations to boost production.
That move from the US State Department could see an extra 1.5 million barrels a day added to the production system, which will contribute to a fall in the cost for crude oil.
