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Christmas Petrol Price Set to Drop?

petrol pricesIt is beginning to look more and more likely that drivers across the globe are going to be getting something of an early Christmas present this year, and that is due to the recent drop in the price of petrol and diesel at the petrol pumps.

In the UK the price of petrol is likely to reach the all important price of £1.00 per litre in the coming weeks, and this is something that as a Binary Options trader you should be aware of. Whilst drivers and companies are likely to reap the benefits of petrol and diesel price drops, the opposite can be said for the oil companies and petrol and diesel retailers.

Earlier this week the price of crude oil fell to a level not seen since early 2009, and that saw a barrel of oil costing $40.40. With the slow but predictable way that low oil prices finally works its way through to the petrol pumps, this means drivers and transport companies are finally seeing some reductions in their motoring costs.

There are of course quite a number of reasons why a barrel of oil has dropped in price so noticeably, one of those reasons was the recent events in Paris coupled with further problems in the Middle East.

With an current slump in demand for oil being experienced and with producers not reigning in their production the price of oil should continue to fall further in the coming weeks, and as such do consider placing a Binary Options trade on the price of oil for there are daily fluctuations in the price of oil that make that market place potentially very profitable.

The run up to Christmas is of course when there can be a whole host of additional trading profits to be made on a wide and varied range of different market places, so whilst the oil market sector may seem appealing never forget you have plenty of other sectors available to you.

It is no secret that as usual the retail market sector is currently approaching their make or break time of year, however also keep your eyes on companies who are involved in the travel industry for recent terrorist events have put added strain on those companies.

Forex is another trading environment that you may be interested in getting involved in as is always the case when oil prices start to fall some currencies also see an instant drop in their values too.