Berberis Posted October 24, 2008 Share Posted October 24, 2008 Oil is at about $67 a barrel compared to the peak in July of $147 a barrel. The price of oil has decreased by over 55% while prices at the pump have decreased by about 12%! Then you have to consider how utility prices are linked to oil prices and used as the justification for raising prices considerably this year and last year. They show no sign of going down at all! in comparison E.on the huge French government owned utility provider is not allowed to levy huge price rises to the French people, but our government allow them to do what ever they like to the British people! No wonder 80% of the population would leave the UK if they could! We are being royally screwed by just about everyone! Link to comment Share on other sites More sharing options...
melthebell Posted October 24, 2008 Share Posted October 24, 2008 it was in the whitby gazette today prices round the scarborough area have dropped below the £1 mark but it says rural areas around whitby still cannot afford to which is still around the 105/107 mark a litre and 117 for diesal Link to comment Share on other sites More sharing options...
beansforyou Posted October 24, 2008 Share Posted October 24, 2008 The Opec Cartel have agreed today to cut back production by 1.5 million barrels a day, to try and raise prices again. Anti-Competition law anyone? Link to comment Share on other sites More sharing options...
swissheavy Posted October 24, 2008 Share Posted October 24, 2008 A cartel is by it's very nature a monopoly in effect - and in any other instance, illegal. Unfortunately OPEC can try and have their merry way but I don't see this dramatically increasing the price of Oil. The fact of the matter is, as per my original post, Petrol pump prices still need to be a good few pence a litre lower than they are. That's working on $70 a barrel too, and it's current WTI price is $63.96. Roll on more price drops. Link to comment Share on other sites More sharing options...
The Boosh! Posted October 24, 2008 Share Posted October 24, 2008 i dont think its just the oil companys fault though. Look at how much the goverment is charging tax on petrol (Forgot what it is ATM so apologies). To the OP - i agree, needs to come down, especially compared with the price of petrol in the states Link to comment Share on other sites More sharing options...
midvixen Posted October 24, 2008 Share Posted October 24, 2008 Sainsburys, Meadowhall now 95.9p a litre. It's going down slowly, but steadily. Link to comment Share on other sites More sharing options...
Stormy Posted October 24, 2008 Share Posted October 24, 2008 Sainsburys, Meadowhall now 95.9p a litre. It's going down slowly, but steadily. It will come back up again soon. And quickly. Link to comment Share on other sites More sharing options...
shortcrust Posted October 24, 2008 Share Posted October 24, 2008 It's simple really No it's not that simple. Oil is sold in dollars and the pound is MUCH weaker against the dollar now than it was in Aug 07. When you take the exchange rate into account, 90p in Aug 07 translates to 113p now. Link to comment Share on other sites More sharing options...
beansforyou Posted October 24, 2008 Share Posted October 24, 2008 You keep using the word 'Need' - can you explain what you mean by that please? Do you mean it 'needs' to come down, just because people want it to? Or what other 'need' is there? I'm just curious, I mean, I could say that the price of corned beef 'needs' to come down, just because it would suit me if it did, but it wouldn't be a very rational argument if I put it forward to Corned Beef suppliers. Link to comment Share on other sites More sharing options...
firecracker Posted October 24, 2008 Share Posted October 24, 2008 And under Cameron's 'bright' idea, petrol would cost at least 5p or 10p more per litre. Link to comment Share on other sites More sharing options...
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