as anyone noticed tumbling petrol prices ..... oil prices dropped $10 in 2 days ... i hope it catches some of those traders out ... gits

http://ap.google.com/article/ALeqM5i5TtajgUpSm7KY5jf-lCJGHBB-tAD91V4HL00

blip before the storm

i don not think petrol will go down, it will as ways go up.

stuart

it can fall as much as it wants I doubt we'll see any savings passed onto to us.

Mr. Whippy is right.
Was talking to a senior guy in BP yesterday and it really is the tip of the iceberg.
Lack of investment in energy over the last 20-30 years means high dependency on ageing refineries with resources of crude oil and gas concentrated in a few (greedy, politically unstable and religiously biased) hands.
An ageing workforce (not enough petro-chemical graduates by far over the same period) means there are insufficient specialists to kick-start alternatives.

About time Gordon and his lot faced the realities and started to urgently pursue coal and nuclear to make us less dependent on imported fuel supplies - it's there just needs the will to do it according to my source.

Up to talking to that guy I was having quite a nice day.
Cheers, Pewe

I think you're right, don't expect relief anytime soon.

I read that refining margins are currently poor, being squeezed by crude oil price and political pressure to contain fuel prices, and crude prices are being driven by demand in China and India. So the only influences are tax rates and cooling economies taking heat out of global oil demand. Summer fuel demand for holiday travel often has the opposite effect.

Oil companies are reluctant to suddenly invest lots more in new capacity becasue they did this in the 70's oil crisis and ended up with over capacity and $10 oil in the 80'S. You're also looking at years of investment to get from new find to production of new oil.

It's a gloomy prospect, but is Nuclear power and electric kit cars the inevitable future in 10-15yrs time? I think I'd best pull my socks up and finish my build while I can still just affort to feed it.

Now there will be complainers saying they are making less money because prices are down... Good excuse for the oil thieves to raise them again: "shareholders must be made happy".ou

I honestly believe that you are ripped bloody off in the UK. The government is as addicted to the revenue as everyone else is; the public be damned.

Here in Canada, do you know where the oil companies make the most profit margin? Yes, in Alberta. An oil producing province with few taxes. Less tax = more room for profit as pricing evens out across the country.

For the records I have just noticed that both my local Shell and Asda forecourts have knocked 2p a litre off the diesel (£1.31.9 to £1.29.9). I guess the unleaded has gone down as well!

LOL LOL Fuel go Down LOL LOL

It ought to induce panic buying, leading to short supplies and further price increases later on. Can you say "1970's"?

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Originally posted by RK
It ought to induce panic buying, leading to short supplies and further price increases later on. Can you say "1970's"?

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at last

http://www.guardian.co.uk/business/2008/jul/22/supermarkets.oil

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Originally posted by DarrenW

How does panic buying of fuel work? I can only get so much in my tank before it is full.

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quote:

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Originally posted by woodster
i hope it catches some of those traders out ... gits

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On Monday unleaded petrol at the Tescos on my way to work was 119.9p a litre - today it's 115.9p a litre I'm not saying the underlying trend isn't upwards but yah boo sucks to all you doom merchants who reckoned petrol prices would never ever go down again

Suprisingly not a mention of lower petrol prices on Pistonheads either.......... must be too cheerful for them

quote:

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Originally posted by DarrenW

quote:

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Originally posted by RK
It ought to induce panic buying, leading to short supplies and further price increases later on. Can you say "1970's"?

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How does panic buying of fuel work? I can only get so much in my tank before it is full. Do some people have garages full of IBC's (1000 l containers) that they rush out and fill when there is a bit of a drop?

Or do people rush out to fill their tanks, then do hundreds of miles so they can fill up at night too?

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