How much was petrol the last time oil was under fifty dollars a barrel

[trav4]

Can anyone remember?.

[whiteowl]

According to the BBC website, the last time it was under $50 a barrel was May 2009 and according to Petrolprices.com petrol hit £1 a litre in that month.

[alchresearch]

That's why the media are predicting it will drop to £1 a litre again any week now. The supermarket price wars are helping too, BBC news said that food prices will also be dropping.

[Xt500]

That's why the media are predicting it will drop to £1 a litre again any week now. The supermarket price wars are helping too, BBC news said that food prices will also be dropping.

 

so the media have inside info,and the Supermarkets are in colousion to fix the prices?

 

http://www.standard.co.uk/news/uk/petrol-prices-all-four-major-supermarkets-slash-cost-of-fuel-again-9959534.html

[HJO-1403]

Apparently (according to Hot UK Deals) a petrol station in London has it at 99.9p

[geared]

The supermarkets are trying to drive down prices.

 

Obviously it takes time for the oil price on the stock market to show at the pumps, as it's bought in bulk, refined, shipped to stations etc etc etc.

 

Although some do say it go's up faster than it comes down, which sounds likely to most people.

[Xt500]

The supermarkets are trying to drive down prices.

 

Obviously it takes time for the oil price on the stock market to show at the pumps, as it's bought in bulk, refined, shipped to stations etc etc etc.

 

Although some do say it go's up faster than it comes down, which sounds likely to most people.

 

Fuel retailers are trying to drive prices down??

 

Ha ha ill have a pint of what your on!

 

so how many other business do you know trying to drive prices down

[altus]

Fuel retailers are trying to drive prices down??

 

They won't be trying to drive prices down but they will be trying to sell more than their competitors. One way of doing that is to lower prices. The falling wholesale cost of fuel gives them more leeway to do that - hence the recent price falls. For supermarkets in particular, lower prices at their pumps can attract customers to the associated store.

[Cyclone]

http://www.petrolprices.com/the-price-of-fuel.html

 

There's a graph on here that shows May 05, oil at just under $50, petrol at 90p/litre

 

Of course to be sure what this means we'd need to check the change in duty and the $/£ exchange rate compared to today.

[Xt500]

They won't be trying to drive prices down but they will be trying to sell more than their competitors. One way of doing that is to lower prices. The falling wholesale cost of fuel gives them more leeway to do that - hence the recent price falls. For supermarkets in particular, lower prices at their pumps can attract customers to the associated store.

 

falling wholesale prices doesn't give them more leeway at all.They work to a set margin.No business wants to cut into that margin for obvious reasons.

if there really was a price war then you would see almost daily drops of fuel prices between the big 4 but as there isnt that wont and doesn't happen.

Its all media bluff and bluster.