Luxury car drivers see smaller fall in fuel prices

Shale oil boom is pushing price of low-octane petrol down more than the cost of premium petrol

San Francisco

THE shale oil boom is proving far less kind to Mercedes Benz drivers than it is to those sitting behind the wheel of a Toyota Camry or Chevrolet Impala.

While regular petrol-chugging drivers are paying just US$3.043 a gallon in the US, the lowest in four years, those cruising around in luxury cars and demanding only the finest of grades, known as premium, have seen smaller declines. The price gap between the two grades swelled last week to the widest since 2008.

Shale drilling is one of...

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