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Experts warn of future turmoil due to falling price of oil

Video report by ITV News Central reporter Chris Halpin

Oil experts are warning of a crisis in the industry with the price of crude oil at its lowest in more than a decade.

Today oil giant Royal Dutch Shell reported its profits were 80 per cent down and confirmed 10 thousand job losses worldwide.

Globally, the price has fallen because there is too much supply and too little demand.

The East Midlands plays its own part in the UK oil sector. In our final part of our series Pressure at the Pumps, Chris Halpin has been given exclusive access to an oil field and investigates how the crude oil crash is affecting the industry.

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How much are drivers saving from falling fuel prices?

Video report by ITV News Central reporter Chris Halpin

You might be getting used to petrol and diesel prices being around the pound mark - but it wasn't that long ago they were at record highs.

In March 2012 the average price of a litre of unleaded was 1 pound forty, with diesel in at 1 pound 46. In the second part of our series Pressure at the Pumps, Chris Halpin has been crunching the numbers to see just how much drivers are saving.

Who's making money on our petrol station forecourts?

Video report by ITV News Central reporter Chris Halpin

Crude oil prices have dropped to under 30 dollars a barrel but are the tumbling prices being reflected on our petrol station forecourts?

Campaigners for fairer fuel prices say unscrupulous retailers aren't making cuts, but petrol station owners say they're struggling to survive because of falling margins.

Latest figures show 28 per cent of independent petrol stations have closed down in the West Midlands since 2005. So, if they aren't making money from selling fuel - then who is?

Chris Halpin investigates in the first in a three-part series, Pressure at the Pumps.

Coming up: who's under Pressure at the Pumps?

By ITV News Central reporter Chris Halpin

Now a preview of our upcoming three part series on a subject that usually gets people talking - petrol prices.

In recent weeks the cost per litre has dipped below a pound for diesel and unleaded for the first time since 2009. But can it continue? Tune in to ITV News Central at 6 tonight for the first part of 'Pressure at the Pumps'.

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Work on £1.7m Leicester road improvements underway

Roadworks will be in place from today. Credit: PA

Work on a £1.7 million scheme to transform part of Leicester city centre with new cycle lanes and improved footpaths will get underway today.

The city council will remove the existing bus lane between Marlborough Street and Lancaster Walk, and create a two-way cycle lane and wider pavements in its place. The existing three lanes will be kept open for general traffic.

Two new pedestrian crossings will be created - one near Mill Street and the other close to Leicester Royal Infirmary on Aylestone Road as part of the hospital's ongoing work to improve access.

Three bus stops, between Tower Street and Regent Road, will also be moved a short distance along the road to help create more space at the route's narrowest point.

Watch: Martin Lewis new year saving advice

Now that Christmas is over, many of us will be left counting the cost. But money saving expert Martin Lewis reckons now is the time that you could save a thousand pounds.

Ahead of his programme, The Martin Lewis Money Show tonight, the financial journalist says making changes to energy suppliers, car insurers, bank accounts and more are just some of the ways that you could do it.

Watch his advice here:

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