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Fuel prices fall to lowest level since January

Holiday shoppers in Bermuda have a few more dollars in their pockets this month thanks to the falling price of fuel.

Over the last two months, drivers here have seen some of the year’s cheapest prices at the pump.

The price for a regular litre of gasoline on the Island fell to just over $2.09 a litre in November — the lowest level since January.

A combination of high oil prices and supply shortages caused by refinery and pipeline problems kept gas prices elevated for much of the year. Prices for the year hit a high of more than $2.24 a litre in September.

Gasoline prices have fallen as refineries restored production and stockpiles rose, increasing supply.

While prices dropped in November, they crept back up slightly this month, but are expected to remain relatively low into the New Year.

Diesel prices have remained more consistent throughout the year, hitting a high of about $1.97 per litre in March and a low of about $1.81 in June.

Fuel boost: Prices at the pump are at the lowest level since January

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Published December 21, 2012 at 8:00 am (Updated December 20, 2012 at 6:41 pm)

Fuel prices fall to lowest level since January

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