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Author Topic: Petrol prices in relation to Oil prices  (Read 1755 times)

bigfella

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Petrol prices in relation to Oil prices
« on: October 28, 2008, 10:16:34 AM »

Hi All

Just wondering if in the UK petrol prices have remained the same while the price of crude has plummeted? The last time oil was at the $65/ barrel mark Australia was paying under $1/litre for petrol. Although the Aussie dollar has slumped it is round about where it was when the oil was this price too. One can only assume that the oil companies are telling porkies. They take no time to put it up but to drop the prices they are very reluctant.

Another factor that may have contributed to the low oil prices is the speculators in the oil market are struggling for financial survival and are not as brave as they were.

Today I bought petrol at $1.30/litre and today is the cheapest day of the weekly cycle.
What is the situation in your neck of the woods??

Regards David
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Colin Bishop

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Re: Petrol prices in relation to Oil prices
« Reply #1 on: October 28, 2008, 10:38:42 AM »

They have gone down quite a bit, but not pro rata to the extent that they went up following the oil price rises - what else would you expect?!
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Mankster

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Re: Petrol prices in relation to Oil prices
« Reply #2 on: October 28, 2008, 11:01:39 AM »

The is 25% weaker than it was 3 months ago compared to the US$

Seaspray

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Re: Petrol prices in relation to Oil prices
« Reply #3 on: October 28, 2008, 01:11:44 PM »

I've saved 5p a litre by using Tesco vouchers over the last year. Up to 1.95 a tank full.   :-))



Seaspray
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barryfoote

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Re: Petrol prices in relation to Oil prices
« Reply #4 on: October 28, 2008, 01:59:09 PM »

They have gone down quite a bit, but not pro rata to the extent that they went up following the oil price rises - what else would you expect?!

......and note BP has just announced a third quarter profit increase of 147%. <*< <*< <*< <*< <*<
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Jonty

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Re: Petrol prices in relation to Oil prices
« Reply #5 on: October 28, 2008, 09:15:47 PM »

  95.9p a litre at my local, of which near enough 70% is tax and duty.
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craftysod

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Re: Petrol prices in relation to Oil prices
« Reply #6 on: October 28, 2008, 09:42:27 PM »

How long are the tesco vouchers valed,i give them away or chuck them because i dont need them
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Wetwater

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Re: Petrol prices in relation to Oil prices
« Reply #7 on: October 28, 2008, 11:10:32 PM »

How long are the tesco vouchers valed,i give them away or chuck them because i dont need them
  Usually valid for about 14 days.
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Alan.

Seaspray

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Re: Petrol prices in relation to Oil prices
« Reply #8 on: October 29, 2008, 08:51:55 AM »

That last one I got was valued for a month,previously they were only for couple of weeks.

Keep them and use them or give them to other people Its a lot saved during the year.

I fuel up what I need and no more when I have a few vouchers. A lot of weight carrying 60Lts of fuel

Remember only Superstores take them and you got to pay at the kiosk

Seaspray
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craftysod

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Re: Petrol prices in relation to Oil prices
« Reply #9 on: October 29, 2008, 08:24:02 PM »

If my firm shopped at tescos we would save a fortune,i put around 500 a week in my lorry,only does 5 miles to the the gallon
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bigfella

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Re: Petrol prices in relation to Oil prices
« Reply #10 on: October 30, 2008, 09:15:11 PM »

Hi All

With the help of one of our current affairs programmes, here in Australia, a number of independent petrol stations (of which the numbers are dwindling) have organised "Petrol Happy Hours". For an hour these stations will sell petrol for 99.9cents a litre. It is a protest against the big chains which are owned by our two big supermarket chains Coles and Woolworths who have 70% of the market. These chains are artificially pushing up prices and although they give their discount petrol vouchers for shopping at their stores they are still profiteering. Petrol should be at the price these independent stations are selling at their "Happy Hours" all the time.  These chains want to squeeze out the independents so they can charge what they want for petrol. It has already happened to groceries with these two componies they have squeezed out other supermarkets and have  80% of the market share and because of the lack of competition prices just keep on going up without any reason.  >>:-( <*< >>:-( <*< >>:-( <*< >>:-( <*<

Regards David
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Colin H

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Re: Petrol prices in relation to Oil prices
« Reply #11 on: October 30, 2008, 10:16:46 PM »

With regards to fuel prices a few months ago when oil was at $150 a barrel plus we in the UK were subject to massive increases in the cast of electricity and gas. The reason given by the energy companies was that both were linked to the price of oil. As anyone else noticed that since the price of crude fell now well under $90 a barrel that link as been broken.

No mention of a price reduction.

Colin H.
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tony52

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Re: Petrol prices in relation to Oil prices
« Reply #12 on: November 04, 2008, 08:40:42 PM »

Reading this thread will lead to a more serious issue in future years, the worlds dwindling oil stocks. Peak oil production 2011 to 2013. Came across this report in the 'Guardian'. What will happen to prices then?
http://www.guardian.co.uk/environment/2008/oct/29/fossil-fuels-oil

Tony.
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