Oil/Fuel?

Feek · 10-10-2008, 23:04

So oil is now lower/barrel than it was a year ago, why the **** are we still paying these stupid prices for fuel at the pumps?

*insert rant*

Matblack · 10-10-2008, 23:10

Quote:

Originally Posted by Feek

So oil is now lower/barrel than it was a year ago, why the **** are we still paying these stupid prices for fuel at the pumps?

*insert rant*

Because fuel prices aren't based on current oil prices?

MB

Feek · 10-10-2008, 23:17

Huh?

Over the last year as fuel prices have gone up, all we hear is "It's because the price of oil has gone up, matey".

Matblack · 10-10-2008, 23:25

Yes it did but there is a delay, it is only now we are seeing lower prices kicking in, however I wouldn't get too excited, they are going to fall a lot more but this is going to be powered by a reduction in demand due to a recession, so you'll get lovely cheap fuel but there will be some other nasty side effects.

MB

Zirax · 10-10-2008, 23:30

Isn't oil also bought in dollars and there is the effect of the £ being low against the $

Currently its around 1.7 whereas a year ago it was nearer 2

Fayshun · 10-10-2008, 23:34

Isn't the 'lag' between oil prices and petrol prices at the pump about 6 weeks?

Or so the theiving bastard oil companies tell us.

Matblack · 10-10-2008, 23:35

Its something with needs to be factored in, as far as I can see the price changes log by a couple of months, we are starting to see the difference at the pumps, of course they are quicker to put prices up than reduce them but hey that's what we call a sellers market :/

MB

Fayshun · 10-10-2008, 23:44

Quote:

Originally Posted by Matblack

that's what we call a sellers market :/

MB

That's what I call a ******* rip off

Matblack · 10-10-2008, 23:46

Quote:

Originally Posted by Fayshun

That's what I call a ******* rip off

And so you might but its business, unfortunately

MB

Fayshun · 10-10-2008, 23:49

Quote:

Originally Posted by Matblack

And so you might but its business, unfortunately

MB

I'm going to discover oil.

10-10-2008, 23:04	#1
Feek ex SAS Join Date: Jun 2006 Location: JO01ou Posts: 10,062	Oil/Fuel? So oil is now lower/barrel than it was a year ago, why the **** are we still paying these stupid prices for fuel at the pumps? insert rant __________________

10-10-2008, 23:17	#3
Feek ex SAS Join Date: Jun 2006 Location: JO01ou Posts: 10,062	Huh? Over the last year as fuel prices have gone up, all we hear is "It's because the price of oil has gone up, matey". __________________

10-10-2008, 23:25	#4
Matblack Baby Bore Join Date: Jun 2006 Location: Svalbard Posts: 9,770	Yes it did but there is a delay, it is only now we are seeing lower prices kicking in, however I wouldn't get too excited, they are going to fall a lot more but this is going to be powered by a reduction in demand due to a recession, so you'll get lovely cheap fuel but there will be some other nasty side effects. MB __________________ "we had roots that grew towards each other underground, and when all the pretty blossom had fallen from our branches we found that we were one tree and not two"

10-10-2008, 23:30	#5
Zirax Goes up to 11! Join Date: Jul 2006 Posts: 4,577	Isn't oil also bought in dollars and there is the effect of the £ being low against the $ Currently its around 1.7 whereas a year ago it was nearer 2 Last edited by leowyatt; 11-10-2008 at 07:02.

10-10-2008, 23:34	#6
Fayshun Rocket Fuel Join Date: Jun 2006 Location: Adrift in the Orca Posts: 6,845	Isn't the 'lag' between oil prices and petrol prices at the pump about 6 weeks? Or so the theiving bastard oil companies tell us. __________________ We must move forward not backward, upwards not forward, and always twirling, twirling, twirling...

10-10-2008, 23:35	#7
Matblack Baby Bore Join Date: Jun 2006 Location: Svalbard Posts: 9,770	Its something with needs to be factored in, as far as I can see the price changes log by a couple of months, we are starting to see the difference at the pumps, of course they are quicker to put prices up than reduce them but hey that's what we call a sellers market :/ MB __________________ "we had roots that grew towards each other underground, and when all the pretty blossom had fallen from our branches we found that we were one tree and not two"