OREANDA-NEWS. The fall in oil prices to \\$ 50 / bbl. was good news for the largest tire manufacturers. Under these terms, they win due to the cheaper raw materials and the increasing activity of motorists.

Over the last year the profit and capitalization of the companies engaged in the production of tires have increased significantly due to the fall in oil prices. The reduced raw material costs and an increase in travel time due to the depreciating of gasoline impact on the increasing of profitability.

For the production of a tire, according to the Rubber Manufacturers Association, it requires almost 32 liters of oil, the price of which decreased from the last year by 51%. As a result, the profitability of the industry has grown, according to Bloomberg Intelligence, to the level of 27.5%, which is the highest figure for it for 15 years.

Demand for tires is promoted by the increase in the activity of motorists, who began to spend more time by traveling. In particular, American drivers, according to the Ministry of Transport of the United States in May traveled 442,730 billion km, by surpassing the previous record of August of 2008, established before the start of the global financial crisis.

In April, Bloomberg New Energy Finance estimated that the net importers of oil that is the United States, Europe and Asia have benefited from lower prices almost \\$ 900 billion. At the same time, in December of 2014 the World Bank estimated the contribution of cheap hydrocarbons in growth of world economic at 0,7%.