'The financial crisis has hit the United States hardest, and they're the biggest petrol consumers. If this carries on, oil prices will continue to fall.
'At first, I thought US$80 (per barrel) wasn't possible, but now it's nearly there; US$60 by the end of the year is possible.
'People talk about India's and China's demand keeping oil prices high, but this is not as great as America's demand.
'If Opec cuts supply, there may be a slight swing back to US$100 if they cut drastically, but we won't swing back to US$140.'
Oil industry consultant Ong Eng Tong on the direction of oil prices
'It would have been much worse if oil prices hadn't gone down. It's a slight compensation for the economic crisis that's coming. Hopefully, we'll also see a fall in the price of air travel as well.
'My cost of delivery may have gone down slightly, but I've to pay more for other things such as food, manpower, electricity and ERP.
'The small savings in petrol bills are now used to pay for price increases in other areas.'
Mr V. S. Kumar, managing director of Network Courier, on the impact of falling oil prices on his business. He reckons he has saved $2,000 a month from the fall.