Today, the price of petrol dropped to $1·40 per litre (I tend not to count the thousandth of a dollar that the petrol companies do when they say the price is $1·399). But remember the shock we felt when it hit that price 12 months ago? How expensive it seemed? Sure, it’s down from the 2006 high of $1·78-plus a litre, but the oil companies are still making huge proﬁts at this new price. And when it hit $1·40 last time, it was still increasing way more quickly than the average inﬂation rate.
Don’t feel too happy about the low price. You’re not supposed to. Posted by Jack Yan, 09:33
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