Cheap fuel prices are a Christmas present that may not last very long, says the carbuyer’s Dog & Lemon Guide.
Editor Clive Matthew-Wilson said today:
“Low oil prices mean that suppliers are already cutting back production. Sooner or later the supply of oil will no longer meet demand, and the prices must go up again.”
“Low oil prices mean that oil companies will simply close down costly oil plants. Examples of this are deep-sea oil rigs and shale oil refineries, which are only really economic when international prices are high.”