ECONOMY

Global oil price drop sends local fuel prices back to 2010 levels

Consumers are benefiting from the decline in global oil prices as retail rates for gasoline, diesel and heating oil have dropped considerably in recent weeks.

The price of heating oil in particular has dropped to 1.03 euros per liter on average, returning to levels unseen since October 2010, while a number of fuel stations are selling the commodity at below 1 euro/liter.

Gasoline has also returned to 2010 levels, with its average rate on Wednesday near 1.55 euros/l, against 1.622 euros/l just last Friday, according to Energy Ministry figures.

The diesel rate currently stands at 1.22 euros/l.