A standard 1.6 liter BlueHDi Peugeot 208 car has just set a new long distance fuel consumption record by clocking up an astonishing 141.2 mpg. That’s a miserly 2.0l/ 100km. The car drove for a total of 2,152 kilometers (778 miles) on a test track in France using just 43 liters of diesel fuel. That’s got to be less than a tank full!

The vehicle had no modifications fitted, it’s exactly the same as the ‘very low fuel consumption’ model which will be available from their dealer network from June, and it shows just how far the motor industry has moved in a few short years.

The impetus across the industry has come from the introduction of both hybrid cars, which are now capable of handling 80%+ of standard run-around driving in full electric mode, and the new 3 cylinder engines and fuel filter systems which are squeezing every mile they can out of the fuel used.

The interesting thing to note is how this transition must be affecting the oil producing countries, who are seeing their main market starting to disappear in front of their eyes. If over the next few years cars start to focus more on hybrid electric power, with ranges of 30 to 50 miles on electric, it’s not hard to see that fuel sales will dramatically shrink, and the typical oil demand will plummet across the developed world.

Could this be a reason why the Saudis are pumping out as much as they can at lowered prices right now? Before demand vanishes? This seems to be the view of some pundits.