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Kick us while we are down!

Bloomberg.com: Energy Prices
oil now down around even under the $100 mark but petrol at levels when oil $120 a barrel they just creaming big profits of an already over taxed population!!!

when it was rising and oil around $100 petrol was 98p a litre!!!
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Re: Kick us while we are down!

t'was ever thus
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Re: Kick us while we are down!

OPEC has now cut production as well to keep the price inflated.

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Re: Kick us while we are down!

It's funny how petrol prices shoot up when oil inches higher, and remain stable when oil plunges

Italian regulator recently slapped some fines on the Petrol companies for rigging prices, I think this goes on all the time, everywhere.
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Re: Kick us while we are down!

It certainly does in the uk - oil went up to around $148 a barrel and petrol was around £1.22 a litre - its now around $106 a barrel and petrol is £1.15 - it went up last week even though oils had come down.

Old Gordon wont do anything he is making a fortune in extra VAT payments.

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Re: Kick us while we are down!

Lets not forget the exchange rate factor.

Oil peaked at $147
When oil peaked the exchange rate was £1-$1.99 (oil = £73)
Oil currently trading at $101 down $46 (31&#37

Current exchange rate £1-$1.75
So oil is now costing us £57 down £16 (21%)
So thanks to the stronger dollar oil (at least for us) hasn't come down all that much.

The above is a little out of date (10th of sep numbers)
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Re: Kick us while we are down!

I notice oil is now $98 and the pound has clawed some of it's losses back. Now roughly £1 - $1.80. We may start to see some reduction at the pumps if this continues.

OPEC should cut some production, economic down turn is curbing demand why produce far more than we need.
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Re: Kick us while we are down!

I read in the paper today oil has dipped below $90 a barrel strange how the pump price hasn't fallen and if anything is still inching up slightly. I'm sure the oil companies could spin some yarn about rising cost of production etc.....time for a protest...........
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Re: Kick us while we are down!

Seeing as its September don't they use the hurricane threat to the refineries in America excuse too?
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Re: Kick us while we are down!

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Originally Posted by Mr_Caine View Post
I read in the paper today oil has dipped below $90 a barrel strange how the pump price hasn't fallen and if anything is still inching up slightly. I'm sure the oil companies could spin some yarn about rising cost of production etc.....time for a protest...........
See my above post regarding the exchange rates. Although IMHO, we should be paying around 105-106p now.

I'm guessing the fuel thats sitting in the containers was produced when oil was around $120 and exchange rate roughly £1 - $ 1.85. I mean, would you sell it at a loss.

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Originally Posted by andypj View Post
Seeing as its September don't they use the hurricane threat to the refineries in America excuse too?
Refineries have been evacutated a few times in the gulf already.
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Re: Kick us while we are down!

Well, fuel has now come down to 106.9p in my area.

Look like my figures were pretty accurate then, no need to thank me I'm just here to help.

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Re: Kick us while we are down!

Are we meant to be pleased hat petrol is still way above a £1 per litre ???
 
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Re: Kick us while we are down!

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Originally Posted by bobster View Post
Are we meant to be pleased hat petrol is still way above a £1 per litre ???
I paid £1.10 for a 500ml bottle of Ribena

So in reality it's not that bad.

Petrol is still taxed to death, but at least this government has lowered the taxation a bit.
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