petrol price rant/question
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petrol price rant/question
Can someone explain to me the rising prices at the fuel pumps?
This maybe simplistic and possibly just wrong, but last summer crude was priced at $150 a barrel, this equated to roughly £1.20 a litre of go-go juice.
Then crude nose-dived to approx $40 a barrel, we saw pump prices drop to 85p/litre (ish).
Why the hell are we now back to £1.05 a litre when crude is still only $69 a barrel?
Two reasons I’m aware of:
1. That badger head chancellor keeps stiffing us for more tax.
2. Oil companies blaming weakening £.
I thought the pound had made a bit of ground on the dollar, So the way I see it, you get a bit more dollars to the pound, therefore you can buy more oil.
I know the oil companies didn’t pass the saving on for months when the crude price slumped as they said they had bought their supplies when prices where high, So Why the hell did they not buy loads when it was cheap? Why is the pump price increasing so fast?!
Also, why is there no media coverage of this issue yet? I would have thought it would be plastered all over the news by now, which makes me think I am missing the point somewhere- can someone enlighten me?
Currently feeling like we are being bent over said barrel of oil and buggered by the fat cat oil bosses and Brown/Darling while they’re all laughing at us Brits who are now proven to be willing to pay £1.20 a litre…...
This maybe simplistic and possibly just wrong, but last summer crude was priced at $150 a barrel, this equated to roughly £1.20 a litre of go-go juice.
Then crude nose-dived to approx $40 a barrel, we saw pump prices drop to 85p/litre (ish).
Why the hell are we now back to £1.05 a litre when crude is still only $69 a barrel?
Two reasons I’m aware of:
1. That badger head chancellor keeps stiffing us for more tax.
2. Oil companies blaming weakening £.
I thought the pound had made a bit of ground on the dollar, So the way I see it, you get a bit more dollars to the pound, therefore you can buy more oil.
I know the oil companies didn’t pass the saving on for months when the crude price slumped as they said they had bought their supplies when prices where high, So Why the hell did they not buy loads when it was cheap? Why is the pump price increasing so fast?!
Also, why is there no media coverage of this issue yet? I would have thought it would be plastered all over the news by now, which makes me think I am missing the point somewhere- can someone enlighten me?
Currently feeling like we are being bent over said barrel of oil and buggered by the fat cat oil bosses and Brown/Darling while they’re all laughing at us Brits who are now proven to be willing to pay £1.20 a litre…...
Craig
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'69 911T
'79 VW Westfalia Berlin deluxe
Gone but not forgotten: My rusty old '75 bay
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'69 911T
'79 VW Westfalia Berlin deluxe
Gone but not forgotten: My rusty old '75 bay
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at my "local" diesel is cheaper than petrol!!.. im quite happy about that (my mrs isn't ) although if they were both 10p cheaper than they are i'd be far happier..
i was only thinking the otherday we need another morrisons/asda price drop which was basically what forced the hand of bp, shell, et-al last time
i was only thinking the otherday we need another morrisons/asda price drop which was basically what forced the hand of bp, shell, et-al last time
johnM wrote:The oil companies are doing soooooo bad I didnt even get a pay rise this year Still they havent asked us to swim to work yet
Yeah, thats what they tell you, then they'll announce record profits again
Craig
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'69 911T
'79 VW Westfalia Berlin deluxe
Gone but not forgotten: My rusty old '75 bay
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'69 911T
'79 VW Westfalia Berlin deluxe
Gone but not forgotten: My rusty old '75 bay
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Re: petrol price rant/question
Speculatorscraig001 wrote:Can someone explain to me the rising prices at the fuel pumps?
Steve
1 x '67S, 3 x 2.4S all RHD
A privilege & pleasure to have owned them all.
1 x '67S, 3 x 2.4S all RHD
A privilege & pleasure to have owned them all.
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same here; 20% pay cut across the board, no bonus, no rises, etc., etc., but i still got a share dividend, and the profits are about 1/2 what they were last year (despite sales being about 1/4! )craig001 wrote:johnM wrote:The oil companies are doing soooooo bad I didnt even get a pay rise this year Still they havent asked us to swim to work yet
Yeah, thats what they tell you, then they'll announce record profits again
keep the shareholders happy!.. grrrr.....
Re: petrol price rant/question
Not in this case, that would cause crude to go up, the point the OP is making is the correlation between crude and pump doesnt seem to follow true.left4dead wrote:Speculatorscraig001 wrote:Can someone explain to me the rising prices at the fuel pumps?
FX is currently at 1.64ish, it peaked around 2., which was roughly around the boom in the crude also.
Inbetween this boom and bust cycle in fx and commodities, the uk tax on fuel has of course also gone up.
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you guys are just getting ripped off up there,down here in new zealand,fuel has just gone up,but we are still only 60p for petrol,and 43p for diesel,you would think with your 60 odd million people you would get a good deal on oil,something not quite right there
alex
alex
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74 lhd 911 hotrod
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74 lhd 911 hotrod
65 356 project
71 911 e project
66 912
69 912
54 356