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oil back to $100 a barrel - so why is our petrol price not lower?
saigonij - 12/9/08 at 11:36 AM

Oil is back down to $100 a barrel now...

so why is our petrol still £1.12, and not 90p as it was a year ago?

MikeR - 12/9/08 at 11:38 AM

ah, that's down to economics.

They make more money charging you 1.22 a litre.



i didn't say it was complicated economics !

saigonij - 12/9/08 at 11:40 AM

the problem is that there is no where to voice this questions...

smart51 - 12/9/08 at 11:58 AM

Market forces are down to supply and demand. We have more demand than supply.

Use less of the stuff if you want the price to some down.

mad4x4 - 12/9/08 at 12:06 PM

I use just as much fuel as I did a year ago (like alot of people) so it's not that i'm using more. infact like every one else i more likely using less due to cost!

I'ts just oil comapines are "money grabbing ___________" fill in the blank your self.


I heard yesterday that our government is broke - how can it be they are getting more revenue than every from the higher fuel cost?

RK - 12/9/08 at 12:52 PM

Because they CAN. Nothing to do with supply/demand or anything other than greed. Have you checked what the pay packages are for oil execs?

a4gom - 12/9/08 at 01:59 PM

The fuel is more because the fuel used to process the oil costs more and the tankers which deliver the fuel use fuel which is more expensive because the fuel used to process the oil costs more and the tankers which deliver the fuel use fuel which is more expensive because the fuel used to process the oil costs more and the tankers which deliver the fuel use fuel which is more expensive because .....

chris-p-duck - 12/9/08 at 04:20 PM

Whilst the oil price has dropped it is still a commodity that is traded in dollars and the pound dollar exchange rate has dropped. So we get screwed again..................

mcerd1 - 12/9/08 at 05:03 PM

quote:
Originally posted by chris-p-duck
Whilst the oil price has dropped it is still a commodity that is traded in dollars


unless you buy your oil from iran
linky

[Edited on 12/9/08 by mcerd1]

BenB - 12/9/08 at 05:56 PM

quote:
Originally posted by MikeR
ah, that's down to economics.

They make more money charging you 1.22 a litre.



i didn't say it was complicated economics !


sweet

NeilP - 12/9/08 at 06:59 PM

Dollars got stronger against the pound in period that the price had dropped - Simple maffs init...

andyps - 13/9/08 at 07:00 PM

quote:
Originally posted by mcerd1
quote:
Originally posted by chris-p-duck
Whilst the oil price has dropped it is still a commodity that is traded in dollars


unless you buy your oil from iran
linky

[Edited on 12/9/08 by mcerd1]


I don't think the UK government encourage trade with Iran currently....

In reality, almost all oil is traded in US Dollars, including that which comes from the North Sea into Aberdeen and the UK economy is probably in an even worse state than the US one so sterling isn't exactly in great demand at the moment meaning the price of fuel at the pumps is remaining pretty static due to the overall combination of factors.

coozer - 13/9/08 at 08:40 PM

Its a total rip off..

When the price of oil started going up I could see the link

Oil = $120 a barrel... diesel £1.20/L
Oil = $133 a barrel... diesel £1.33/L

Trouble is the accelerator only works in one direction. you get used to the price and it never comes down

Steve Munster - 16/9/08 at 08:26 PM

I'm off to buy an MEV etrike so stuff you petrol companies, hope your toger shrivals up and falls off........lol