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BBC

Channel Islands fuel suppliers signal further pump-price cuts as wholesale costs ease

AI Market Summary
Falling retail petrol and diesel prices in the Channel Islands reflect declining crude and refined-product wholesale costs, with global oil prices reportedly back to pre-Iran-war levels. The lag in refined products due to Iran-related infrastructure damage suggests easing demand/supply tightness is now outweighing temporary constraints. This narrative reinforces near-term pressure on crude benchmarks and the downstream complex, even as pass-through to consumers remains gradual.
Impact level
● Low
Affected assets
NCCO1OILBRENT2USD/USDT+1.09%
AI Insight · NCCO1OILBRENT2USD/USDTAI Insight
▼ Bearish
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Channel Islands fuel suppliers Rubis and ATF Fuels said retail petrol and diesel prices in Guernsey and Jersey have been falling for weeks as wholesale costs decline. Diesel recorded its fastest monthly drop since 2000 in June, down 17p a litre, while petrol prices fell more modestly. Although damage to refining infrastructure linked to the Iran war has slowed the fall in refined-product costs, the companies said lower wholesale prices are now feeding through to forecourts.
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