Oil prices are trending lower on Tuesday. Potentially good news for motorists.
Brent oil, listed on the International Petroleum Exchange, fell below the symbolic bar of 80 dollars a barrel on Tuesday, for the first time since January, reports Le Figaro.
Penalized by a potential series of new key rate hikes by the major central banks and by the entry into force of sanctions against Russian oil.
Price reference in Europe
Brent, crude oil used as a standard in the pricing of crude oil and as a commodity for oil futures contracts, serves as a price benchmark for oil from Europe, Africa and the Middle East.
It had experienced a sharp rise in early March after the Russian invasion of Ukraine, occasionally exceeding 130 dollars a barrel.
Such a fall in prices could have a powerful impact on fuel prices, with a drop of 20 dollars in one month.
This price concerns deliveries scheduled for January/February 2023. Good news at the pump expected for the start of the year.