Cheap petrol: enjoy it while it lasts. The new danger for fuel supply

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Petrol has dipped below $1 per litre at bowsers across Australia as the price of fuel hits a 20-year low. A massive oversupply of oil globally – as roads are empty during the lockdowns – has caused the price of petrol to plummet to record lows. In some extreme cases – reported widely on the nightly news – some oil companies are even paying others to take their fuel supply because they have nowhere to store it.

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