Good News For Manufacturers As Oil Prices Fall

Over the past year or so, manufacturers have suffered from rising raw material costs. These have fallen recently and may fall even further, following a drop in the price of oil (around 40% of a tyre’s content is ultimately derived from oil). Back in September, the price of Brent crude oil was at a 10-year high of $37 a barrel.

This week’s price is 35 per cent lower, at $24.23..