$65 a barrel and we're still paying £1/L

[AndyP & Lenore]

It's nothing short of criminal.:ragin::ragin::ragin::ragin::ragin:

A.:ragin::ragin::ragin::ragin::ragin:

[illegalhunter]

Oil is sold on the futures market so the price at the pump will lag about 4/5 weeks.
There still robbing us blind at the pump.

[Big Gordy]

OPEC are talking about reducing output so it may all go back up again:frown:
Morrisons in Stirling were selling unleaded at 97.5 this morning.

[Big Gordy]

What bugs me is the difference between pertol and diesel seems to be growing:frown: It used to be about 5 or 6p of a difference but its more like 10 or 11p now:ragin:

[Knox18]

96.9 at asda, rumoured to drop to 94.9 over the next few days, still shocking though :(

[AndyP & Lenore]

Oil is sold on the futures market so the price at the pump will lag about 4/5 weeks.
There still robbing us blind at the pump.

Didn't know oil was on the futures market.

But that doesn't explain why when the price per barrel goes up sharply, the price is reflected within hours at the pumps.

But it's like your Mortgage payments.....

When the interest rate goes up, there's a letter on your doorstep the next day saying your payment is going up immediately.

When the interest rate goes down, it takes the 2 or 3 weeks to get a letter out, and then the drop in payment is usually "effective from your next payement".:argh:

A.

[ianking]

Unleaded is 95.9 at Fordel services on the A68.

[Scottie]

I'm at my work so can't type much but most retail sites are priced on platts it's just not as simple as all that but your right I would have passed the benefit on by now to the retail sites.

[euan]

www.petrolprices.com tells you the nearest cheapest petrol stations to you - sign up for the newsletter and you'll soon see where the nearest cheap ones are.

Opec's role is to try and maintain a stable price (ie, artificially high) to keep making the oil companies and oil nations a healthy profit. One of their aims is "looking after the Organizations interests", which is never going to help the end consumer anyway.

Oil companies are in the futures game, but as Scottie says, they should have been passing it on by now. But it's these blips where they can make money, and as such gain a better share price by having good profits come quarter end.

Doesn't help us though...

[Big Gordy]

I hear OPEC have agreed to cut supply so prices could be going back up again folks:frown:

[illegalhunter]

Demand is droping due to everybody bailing out the banks, and being prated

[AndyP & Lenore]

Demand is droping due to everybody bailing out the banks, and being prated

Demand dropping has absolutely nothing to do with bailing banks out.

Where's my shakes head smilie?:frown:

A.

[Scottie]

I hear OPEC have agreed to cut supply so prices could be going back up again folks:frown:


OPEC had intended to raise prices by reducing production. But after the announcement, oil prices dropped $3.24 a barrel to $64.60 in electronic trading.

[Scottie]

Demand is droping due to everybody bailing out the banks, and being prated


bailing the banks out is acting as nothing more than a band aid IMO.

world market collapse was avoided today but I think it's not off the table yet.

[Sheilz]

No consolation but it only costs £32 to fill the tank of a Prado in Dubai (180 litres) :thumbs up: