Time for a Price Reduction ?

Times today reports an oil supply glut and a 30% price reduction since October ! See : https://www.thetimes.co.uk/edition/business/oil-price-falls-below-60-over-fears-of-supply-glut-lvkwl8dss

Time to plan to reverse the recent price rises ?

Sounds like some good news finally on the price front Victor!

Sadly it doesn’t look much like the wholesale price has changed much yet.

We also don’t use much crude oil to produce electricity in the UK but I look forward to a drop in pump prices.

@victor I’m not sure there’s much relationship between oil prices and electricity prices… different markets entirely as @mowcius says. But the drop in diesel prices has been a relief. Back down to £1.30 or so.

To add to the other comments, energy is purchased in advance. So even if the wholesale price does drop, it’ll take some time (weeks/months) for the price change to filter through to new energy purchases.