20th November 2001

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Follow The Drop

Sinn Fein Councillor Dessie Ellis has called for oil and petrol retailers to fully implement the substantial reductions in world-wide oil prices.

``Over the past month the price of crude oil has fallen from $25 to $17 per barrel, a 28% decrease. However, the price of home heating kerosene has just been reduced from £345 to £300 per 1000 litres, a drop of only 13%. Retail petrol prices have been reduced be even less.

``Oil companies are very quick to rigorously implement any increase in oil prices, or even anticipated increases, as happened after Sept 11. They should be equally quick to pass on reductions, particularly as experts predict that the price is set to go on falling to as little as $10 a barrel.''

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