Drivers tend to fall into one of two camps; the sort that check fuel prices and the sort that don’t. If you happened to fall into the first group then you may well have noticed that diesel prices fell to much the same level as petrol recently. This may well have been cause for celebration by many observant diesel drivers and there is no sign it is likely to increase again in the near future.
Diesel Vs Petrol
For years the battle has raged on between advocates of the to fuel types. It is generally agreed that diesel engines are very economical but the fuel has been more expensive in the UK since 2001 when the two were last level pegging on price. With the advent of small turbo charged petrol engine technology like Ford’s Eco-Boost the economy game has become even more close run. Which ever side you are on, the fact of the matter is diesels are popular, very popular. The number being bought each year is continuing to rise despite suggestions of increased congestion charges and city centre bans in years to come.
Many supermarkets dropped the price of diesel by as much as 2 pence per litre and Asda shoppers were treated to a pump price of just 112.7p per litre, Petrol was sitting rather high on 113.9p per litre. This change will have a big effect on commercial vehicles including taxis,it will mean more profit and hopefully more money then passed back into the economy.
Why has all this happened? Well there are two main reasons, one is more political than the other. The first reason is that technology has simply got better. The technology used to actually extract the fuel from crude oil has got more efficient and therefore allowed more fuel to be produced at a lower costs. The second reason is continuing low price of crude oil from the Middle East, it means that the base product in all of this is simply cheaper, this does also mean petrol is cheaper too. There are those that suggest the lowering of the crude price is a tactic by the Middle Eastern countries to prevent fuel from fracking being bought and to stop the process being viable, only time will tell.
As things stand now there is no reason the price will go back up again. The crude price remains low and the technology certainly wont disappear back into the brain of a scientist so diesel drivers can look forward to a frugal year ahead of them. Naturally, some petrol drivers may feel a little cheated but this is a little unfair, this price drop is really just diesel coming back to where it should be and not a drop down to where it shouldn’t. Everyone should be happy about low fuel costs, it effects us all in one way or another and the lower the cost the better things tend to be,