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On April 26th 2006 petrol prices reached an all time high of 96p when the price of oil hit $70 a barrel.

The price of oil is now $70 a barrel again, yet im paying 103p on average...

Now either the goverment or the oil companys...or both are screwing us over or i missing something!
 

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On April 26th 2006 petrol prices reached an all time high of 96p when the price of oil hit $70 a barrel.

The price of oil is now $70 a barrel again, yet im paying 103p on average...

Now either the goverment or the oil companys...or both are screwing us over or i missing something!

More tax :mad:
 

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whats the difference in exchange rates between now and then?
 

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Discussion Starter #6
Indeed it was...however the exchange rate is going up along with prices...the problem is people aren't complaining this time.
 

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Indeed it was...however the exchange rate is going up along with prices...the problem is people aren't complaining this time.
because they have shafted us a little at a time this time round, also I think people have realised no matter what we do they have us by the short and curlys......when they demonstrated last time it didnt really affect the fuel companies too much as people filled right up before hand and fulled up fully after, so same money ish just over a longer period of time
 

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I read somewhere that the spike in the price of diesel last year was due to the Chinese converting a lot of their coal-fired power stations to oil-fired so that there would be less pollution for the Olympics, plus increased sales of diesel cars in Europe. Since there was not enough refining capacity for diesel, scarcity drove the price up. The import of the article was that the price would come down relative to petrol as refining capacity increased. Of course what then happened was that the Chinese economy faltered, which must have reduced demand.

I've no idea what is now happening with supply and demand, but where I live diesel is about 10c a litre less than petrol at the moment which makes me feel a lot better than this time last year, when it was about 20c a litre more!
 

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I read somewhere that the spike in the price of diesel last year was due to the Chinese converting a lot of their coal-fired power stations to oil-fired so that there would be less pollution for the Olympics, plus increased sales of petrol cars in Europe. Since there was not enough refining capacity for diesel, scarcity drove the price up. The import of the article was that the price would come down relative to petrol as refining capacity increased. Of course what then happened was that the Chinese economy faltered, which must have reduced demand.

I've no idea what is now happening with supply and demand, but where I live diesel is about 10c a litre less than petrol at the moment which makes me feel a lot better than this time last year, when it was about 20c a litre more!
That is quite an interesting story, and a very feasible one.
I had heard a couple of weeks ago, that the current price rise was caused by people in the City of London (Futures trading) betting on the future price of oil, and as a result of being optimistic about its long tern strength, were driving the price up?????
 

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well the boys and girls of manchester who ride on 2 wheels wish to make the voice heard again.....PLEASE EMAIL US TO CONFIRM YOU A

I went along on my bike last time and may well again.....it of course does not make the goverment suddenly drop the price but it must make someone somewhere understand rippimg of the motorist is wrong.....most goods go by road so petrol and derv go up so does everything!!!!
 
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The Price of Crude will be what the Goldman-Sachs Trading floor want it to be !

At the Moment he Nigerian attacks & Iran's "election" has A few jittery marketmoments ($72 pbl) this morning.

The dollar is down against Sterling ..............

Strangely Gold Climbed as Crude did ,so I have just shorted Oil As I beleive if the $ picks itself up then Crude loses.
 

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If the world economy picks up again oil will return to $150, and then head on up until the unaffordability kills off the economy again. So expect oil to roller coaster in future, but gradually move higher. Oil supplies have peaked (although they won't admit it) so it won't ever be cheap again.
 
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