In the United States, petrol has fallen to less than $2 per gallon (53 cents per liter) for the first time in 5 years. Analysts point to many different reasons for the the crash in crude oil prices (and the subsequent drop in petrol) but these beautiful graphs lay out the reason in a clear format that's easy to understand.
What does it mean for Cleanleap countries?
Although the data in Bloomberg's graphs focus on the United States, crude oil is a fungible commodity and price drops are being felt around the world. The graphs make clear that decreased consumption plays a big role in petroleum pricing. As renewable energy sources come online in large developing countries less fossil fuel consumption overall leads to lower prices.
How has the drop in petrol prices playe out in your area of the world? We'd love to hear from you in our comments below or on our Facebook page.