what is the price of oil
from 2010 until mid 2014 oil prices around the world were fairly stable at around $ 110 a barrel however since june prices have more than halved brent crude oil is around $ 48 a barrel and us crude is around $ 47 a barrel mr dudley said lower oil prices could mean uk petrol could fall below Â£ 1 per litrethis kind of petrol price was not far off despite taxation forming a part of the fuel pricehe boss of oil giant bp bob dudley has said that oil prices could remain low for up to three years