"Do oil prices still power currency values? The answer – which is a very definite yes – may surprise you, as it did the currency trading community in December 2014 and January 2015, when oil prices plunged on OPEC’s decision not to cut supply." Readmore at : http://gulfbusiness.com/2015/02/oil-prices-still-power-international-currency-values/#.VODzEfmsVGU
In Gulf ya but not in UK as our currency is doing ATM the FTSE 100 is doing way good. and you see the oil prices are still falling.
Diesel is currently Php 30/litre and unleaded 44. Both are increasing tomorrow by around a Peso per litre in what the press is describing as a "price hike".
