It doesn't look like oil prices are going to stop falling anytime soon. Many believe that as oil prices continue to drop, Petrol could soon cost only 86 pence a liter, The Telegraph reported. This is less than what most people pay for bottled water in supermarkets across the U.K.
In fact, that's 39 pence less than a liter of bottled San Pellegrino water that could be bought at your standard Tesco, according to The Mirror.
"Breaking through the pound a liter price point for both petrol and diesel was clearly a welcome landmark, but it looks as though there is more to come," Simon Williams, spokesman for motoring group RAC Fuel, said in a statement about the falling prices. "In fact we may get to a bizarre time when a liter of fuel is cheaper than a liter of some bottled waters."
Oil prices have been on a decline since December, falling 30 percent in the last month or so, The Guardian reported.
Brent crude announced Wednesday that oil prices for them had fallen under $30 per barrel. Many estimate that prices could even drop, for many companies, to $10 a barrel.
"The current oil prices may lead to quite hard and fast closures of certain oil producers in coming months," deputy Russian finance minister Maxis Oreshkin said.
However, even as prices drop for crude oil, many U.K. motorists aren't feeling the benefits. Many petrol stations are keeping competition their number one priority, keeping costs high to make more of a profit.
