Prices at the pump have decreased slightly over recent weeks, and the global trend indicates a further drop in the near future.
The price of an oil barrel is currently hovering at $31, far from the highs of $120-130 reached during the peak of the global financial crisis.
The Chinese economy has slowed down considerably in the last two months, which may prompt a further drop in oil prices, with some experts forecasting that it could reach as low as $20.
Price drops usually take two to three weeks to filter down to the pumps, so it’s likely that a significant reduction will not be noticed until the end of January.