This headline in the Sydney Morning Herald attracted my attention. The article is well worth a read. Check it out!
via How the US fracked OPEC: Oil enters new era.
Clearly the trend in wholesale oil prices is clear – on the back of intense competition from the US, OPEC is struggling against falling prices. This should be good news for consumers around the world, yet pump prices continue to lag wholesale prices.
Let me ask an open question:
Who is to blame for motorists not getting the full benefit of lower oil wholesale prices? Is it the oil majors or governments with inflated taxation?
Thoughts?