woodster
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| posted on 17/7/08 at 02:26 PM |
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petrol price fall ??/
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
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Mr Whippy
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| posted on 17/7/08 at 02:33 PM |
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blip before the storm
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Stuart_B
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| posted on 17/7/08 at 03:03 PM |
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i don not think petrol will go down, it will as ways go up.
stuart
black mk indy, 1.6pinto on cbr600 bike carb's.
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jabbahutt
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| posted on 17/7/08 at 03:17 PM |
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it can fall as much as it wants I doubt we'll see any savings passed onto to us.
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pewe
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| posted on 17/7/08 at 03:20 PM |
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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 
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Rosco
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| posted on 17/7/08 at 04:11 PM |
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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.
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RK
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| posted on 17/7/08 at 04:35 PM |
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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.
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Richard Quinn
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| posted on 17/7/08 at 08:15 PM |
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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!
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mad4x4
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| posted on 17/7/08 at 08:33 PM |
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LOL LOL Fuel go Down LOL LOL
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RK
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| posted on 18/7/08 at 12:25 AM |
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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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DarrenW
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| posted on 18/7/08 at 09:33 AM |
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quote:
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"?
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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woodster
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| posted on 22/7/08 at 09:25 AM |
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at last 
http://www.guardian.co.uk/business/2008/jul/22/supermarkets.oil
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JoelP
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| posted on 22/7/08 at 06:16 PM |
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quote:
Originally posted by DarrenW
How does panic buying of fuel work? I can only get so much in my tank before it is full.
i think on a normal day the average car will be about 55% full, assuming when it gets to 10% you fill it back to 100%. When people think its running
out, they will try to keep it full. Assuming 30M cars in the uk, each carrying maybe 10 litres more, thats 300 million litres wiped out from garage
stock piles.
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JoelP
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| posted on 22/7/08 at 06:17 PM |
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quote:
Originally posted by woodster
i hope it catches some of those traders out ... gits
just pray it isnt your pension fund that gets caught out!
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D Beddows
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| posted on 23/7/08 at 08:47 AM |
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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 
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alistairolsen
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| posted on 23/7/08 at 10:43 AM |
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quote:
Originally posted by DarrenW
quote:
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"?
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?
how often do you fill your tank? I fill mine twice a week, but in the past it was once every two weeks. I imagine a lot of people are in a very
similar situation, uk average mileage is 12000, say you get 500 to a tank then you fill 60 times a year, so once a week or thereabouts.
so, if you take a random selection of 7 cars, you should be filling one a day...
now imagine a news story says that there is going to be no petrol for a few days, everyone, inluding all the old grannies who fill up a tenner a month
to go the shops goes out and buys a half tank or more of fuel on the same day, most taking a can or two with them "just to be sure"
suddenly the forecourt is dry, and the supply tanker ordered for the next day is insufficient, so people become convinced the media was right, there
is a problem,
Takes a long time to recover from jut that one day!
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