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- May 15, 2017
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Sorta. Don’t forget contracts are done in ‘futures’ which means that if the price of crude drops this week (as it has) - any flow through to the price at the pump takes up to two weeks to see, it’s not instant.The interesting part is that oil went up to nearly US$130 per barrel but has steadily declined over the last week and is now below US$100 per barrel. So the price of petrol should be dropping.