Fuel price could drop before Christmas

There is a chance of some relief at the petrol pumps before Christmas.

Oil prices have dipped below US$90 a barrel, down more than $10 a barrel on last week's record of $99.21, as Opec cartel members consider upping their production. They are due to meet at the end of the week.

Mobil spokesman Alan Bailey says it is likely the oil companies will drop their fuel prices, but he cannot say when.

He says oil prices continue to be volatile, and will probably remain that way in 2008. Mr Bailey says if there is a bit more crude on the market, consumers could get a break by Christmas.

He says fuel prices will not change overnight, but if oil prices stabilise, the price of petrol could come down before 2008.

- NEWSTALK ZB

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