Will the price of fuel go down as Lybian ceasefire causes drop in oil price?
while it should go down, don’t expect it to do so quickly. Technically the price shouldn’t have risen as it did since the instant libya stopped it’s production the difference was immediately made up by saudi’s increasing their production to take libya’s share of the market. Also considering the amount of oil most countries have in reserve there was never any danger of shortages. So what it really comes down to is that speculators wanting to make a quick buck on oil drove up the price per barrel and refineries also have the excuse to keep their prices unnaturally high so will do so as long as they believe they can get away with it.
