Why petrol is the cheapest it’s been in more than 20 years

Petrol is the cheapest it’s been in more than 20 years, with one 3AW listener spotting unleaded petrol for just 73.9 cents a litre in Ballarat.

But it’s not all good news.

Ryan Felsmen, senior economist at CommSec, told Dee Dee it could cause significant problems for our economy down the track.

He said demand for crude oil had dropped somewhere between 20 and 30 million barrels a day, globally, due to the coronavirus.

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