Oil consumption has reduced by only 10% while thr price has dropped by 75%. It won't be long before the price of oil starts to increase again.
My tuppence worth
Davie
Why is cost of petrol and especially diesel still relatively high?
Considering price of crude oil has dropped to $38 per barrel
Last time it was so low petrol was 70-75p
Diesel 70p or less!
Discuss
Cos of the penny pinching government and oil companies.
Just wait till the fuel companies announce record profits. They'll claim its not from fuel sales but from the production side.
adrian
i've actually got no problem at all with oil companies making record profits. after all, they're to ones actually drilling for the stuff, and processing it etc. i do object to the huge taxes from the government
The cost of oil is artificially low at the moment due to the large number of investors who bought huge stocks when the price was high. Then they
tried to unload them before the markets took a dive. The result is that the market is temporarily saturated thus keeping the price down.
Oil consumption has reduced by only 10% while thr price has dropped by 75%. It won't be long before the price of oil starts to increase
again.
My tuppence worth
Davie
I agree with blake...
I noticed that fuel is half the price in Tenerife despite them only having a large volcano, rather odd I thought
Me and missy are looking at moving out there yeah!
quote:
Originally posted by blakep82
i've actually got no problem at all with oil companies making record profits. after all, they're to ones actually drilling for the stuff, and processing it etc. i do object to the huge taxes from the government
Why not buy shares in the oil companies then. If they're making good profits their stock will be good and should pay a good dividend too 
Part (but only part) of the problem is that oil is bought and sold in dollars. Since the pound has just tanked paying for anything in dollars has got
a lot more expensive recently.
Now whether the drop has been part of a deliberate plan or it's just incompetence by Gordon it's difficult to say.
quote:
Originally posted by iank
Part (but only part) of the problem is that oil is bought and sold in dollars. Since the pound has just tanked paying for anything in dollars has got a lot more expensive recently.
Now whether the drop has been part of a deliberate plan or it's just incompetence by Gordon it's difficult to say.
quote:
Originally posted by carpmart
Incompetence gets my vote!