Lowest petrol prices in six years

Plummeting oil prices creating bargains at the pump that look set to continue

As of Monday, the price of a barrel of crude oil had dropped to its lowest level in seven years. The price freefall is clear at petrol stations across the country, with prices for a litre of petrol or diesel at their lowest in six years.

“Prices for petrol are already as low as 9.50 kroner per litre at some stations, and could fall even more as we head into 2016,” FDM consumer economist Allan Skytte told DR Nyheder.

“In June of last year, the list price for petrol was 13.28 per litre, where today it is 10.80. If an average driver uses 100 litres a month, there are great savings to be had.”

Too much oil
Prices are currently at levels not seem since 2009.

A glut of oil from OPEC nations is driving prices for crude down, and with Iran expected to increase its oil exports, prices could dive even more.

“Of course it is hard to predict, but we can expect that the price will continue to be low,” said Skytte.

Bargain-hunting drivers should fill up early in the day for the best prices and look for spots where there are a number of petrol stations competing with each other to find the lowest price.

The lower oil prices are also beginning to bring down the cost of some airline tickets.