More reduction on oil price to come
As the global oil price is hovering at USD60 per barrel now, we can expect that the retail petrol price to come some more in the next few weeks. This is indeed some very good news to many people. Many hypermarkets has taken some positive steps to lower down the price of goods in the last fews weeks and the latest good news is that some restaurants and eating outlets will also lowering down the price of food.
Today Airasia announced that they are going to abolished the fuel surcharge to all destinations and the first airlines in the world to start such a move. It mean that people will need not to pay those extras when they books a flight and flying will be more cheaper now.
Many stimulus package were announced recently and China announced a big sum of 800 billions stimulus package to boost up their economy back. Interest rate are expected to stay low or even lower than the present rate and we shall able to see the turn around to come by early of next year.
Oil price is expected to hovering at USD50 per barrel in the coming months and a more stronger dollar is very much expected. However Dow Jones may not be able to break the 10000 points but investors confidence will be restored back.