A big reason fuel prices might get cheaper is that oil prices have been dropping. Petrol is refined from oil. So lower oil prices equals lower petrol prices.
Oil prices recently went down from over $95 a barrel to $85 a barrel. But unfortunately, there’s a new issue brewing: Iran, who are a big oil producer, might get dragged into the Israel-Hamas conflict.
If that happens, and if more middle eastern countries join in, it could make oil prices go up significantly again. Some oil producing countries have been talking about deliberately driving the price up (which they often do anyway, truth be told) due to the conflict as a form of leverage on the international community.
For now, though, things are looking good, and there’s a chance for cheaper diesel and petrol prices locally by the end of November.
