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Speaker 1: The price of oil talking about things that actually really matter,

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Speaker 1: is the lowest in a year and a half. Brent

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Speaker 1: crude is currently sitting at seventy two US dollars forty

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Speaker 1: five cents a barrel. Liam down as The Herald's Business

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Speaker 1: editor at large and with us Now, Hey Liam.

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Speaker 2: Good a, Heather. Yeah, nice to have a bit of

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Speaker 2: good news.

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Speaker 1: Oh you mean it's obviously not benefit.

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Speaker 2: Yeah, no, no, I think about the price of petrol

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Speaker 2: at the pump this weekend.

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Speaker 1: Actually, what's caused the price of oil to come back

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Speaker 1: like this?

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Speaker 2: Yeah? Well, I mean, you know, I don't want to

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Speaker 2: dig too deep because it might kill the good news

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Speaker 2: vibe around it. But a couple of things. US economy

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Speaker 2: is so that sell off on markets Tuesday overnight Tuesday

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Speaker 2: took oil with it. So concerns about the US economy

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Speaker 2: usual thing. Markets came down a bit and oil went

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Speaker 2: but then some other things. So there was a bit

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Speaker 2: of concern about China. You've got some geopolitical stuff happening.

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Speaker 2: You've got Opec plus has been talking about pushing up

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Speaker 2: supply again, and they might get cold feet or they

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Speaker 2: might go through with it, but you know, they're talking

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Speaker 2: about bringing back on a whole bunch of supply they

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Speaker 2: took off earlier in the year, and that would put

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Speaker 2: down with pressure on the price. And also some weird

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Speaker 2: stuff happening in Libya, so that's had all sorts of

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Speaker 2: political turmoil, and there was some talk that they might

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Speaker 2: have got themselves a central bank governor who was you know,

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Speaker 2: it was very complicated stuff. But it was a trigger

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Speaker 2: for the sell off on Tuesday night and it went

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Speaker 2: again on Wednesday night. So there's been been a bit

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Speaker 2: of downward pressure for a month or so and you

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Speaker 2: might have noticed. People might have noticed that at the pump.

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Speaker 2: But the good users, I think, you know, we've had

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Speaker 2: another you know, five percent or so come off in

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Speaker 2: the last day or two, so I think we should

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Speaker 2: be driving into some lower prices for Saturday and Sunday.

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Speaker 1: I like what you did there. So we haven't got

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Speaker 1: the cheaper prices yet, we have to wait for the weekend.

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Speaker 2: Well, if you look back look at gas b the

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Speaker 2: you know, the consumer petrol website that says that the

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Speaker 2: average price of only to ninety one has come off

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Speaker 2: about five or six percent fifteen cents in the last

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Speaker 2: twenty eight days. But I don't think that that's the

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Speaker 2: retail price and it won't catch that that fall of

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Speaker 2: the last few days. So you know, the other factor

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Speaker 2: you've got to throw in there is the ki Kiwi

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Speaker 2: dollar versus the US, but it's it's look, it's about

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Speaker 2: the same as it's been for for some time. So

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Speaker 2: I think that being stable, you know, fingers crossed that

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Speaker 2: you know, the petrol companies do the right thing and

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Speaker 2: the price comes down.

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Speaker 1: Here, Liam, thank you, appreciated, look after yourself. Liam Dan,

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Speaker 1: the Herald's Business editor at large.

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Speaker 2: For more from Heather Duplasy Allen Drive, listen live to

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Speaker 2: news Talk said Be from four pm weekdays, or follow

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Speaker 2: the podcast on iHeartRadio.