Oil price drop’s good and bad news

Much depends upon whether the price of oil is falling mainly because of rising supplies or because demand is weak.

The Australian

Australians spent about $45 billion on petrol and diesel fuel last year, and stand to make savings of almost $10bn this year if the price falls to date carry through 2015.

It is hoped households, which account for about 60 per cent of fuel usage, spend this windfall and that businesses, which use the rest, feel able to employ more staff and commit to investments because of the boost to profits.

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