: Since then it has been downhill all the way, reflecting the turmoil in the eurozone and then the slowdown in China, the world economic engine room, according to The Guardian. This year prices have flatlined. Not since the oil price-induced spike in 2011, which sent petrol and gas costs spiralling, have consumers suffered such a sustained attack on their living standards. And the lack of energising forces in the world economy look like keeping prices flat for some time. That a long way from the $107 West Texas Intermediate crude hit in June 2014. Goldman Sachs said last week the oil price could fall to $20 a barrel from the near $45 a barrel it currently commands.
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