Fuel price slump a bonus but not lifesaving, says CILT


 

Haulage firms have welcomed plummeting diesel prices in the wake of the Covid-19 pandemic but said the cost saving is nowhere near enough to underpin their struggling businesses. A stand-off between Russia and OPEC, combined with a global oil surplus as lockdowns drastically cut fuel demand has meant prices are lower than they have been for years. Last month West Texas Intermediate (WTI) crude oil closed trading at a price of $US-37.63 having recovered from a record low of $US-40.32. […]