Petrol at a dollar a litre

Back in May I said that petrol prices will fall and it looks like my guess was right.

THE petrol price pendulum has swung firmly in favour of motorists. Six months after predicting unleaded fuel would reach $2 a litre, analysts are forecasting prices to approach $1 a litre.

CommSec's chief equities economist, Craig James, said the falls - unleaded petrol is down an average 35 cents a litre across Australia since July - will have a much more direct impact on the economy than interest rate cuts.....

I'll be interested to hear what the peak oil types say over the next few months. In the mean time, vroom, vroom vroom!