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2010-02-01 08:40:03 As predicted, oil prices continue downward and are now at $71 for Brent crude. The dollar has strengthened to $1.38 to negate much of the oil drop.
Expect pump prices to start reducing in the coming days and average prices should be approx 1.20 for unleaded & 1.10 for diesel by mid february. The lower priced stations will probably be about 3c lower than this at 1.17 / 1.07.
Looking further ahead, analysts suggest it is possible that oil will continue its downward trend and settle in the low $60 range. This would shave a further 5c off retail fuel prices.
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