So with oil down $20 in the past 3 months to $87 will be see petrol prices fall as sharply? I doubt.
No, because oil is not down to $87.
West Texas Intermediate is down to $87 - but as this is delivered to Cushing, Oklahoma, it isn't an awful lot of use to us.
Our fuel is refined from Brent Crude.
Brent Crude is $110 at the moment - the spread between Brent and WTI is touching record highs.