Crude Oil price.. are we being ripped off or what ?

[sydney]

petrol here has not gone down significantly......they have a "pricing cycle" where the the price rises and falls randomly......it can vary 20 cents or more from one day to the next but then you will get "renegade operators" who will sell fuel for 30 cents less in the middle of the cycle.....i can't work out how it's all legal.....thr consumer is getting humped again no doubt...!!

 

[Kosmonaut]

Probably for the best, think of the climate.

 

[GingerBeerMan]

petrol here has not gone down significantly......they have a "pricing cycle" where the the price rises and falls randomly......it can vary 20 cents or more from one day to the next but then you will get "renegade operators" who will sell fuel for 30 cents less in the middle of the cycle.....i can't work out how it's all legal.....thr consumer is getting humped again no doubt...!!

What are you basing this on?

 

[sydney]

What are you basing this on?

fact.... this system is in operation in Perth . West Oz.

 

[KZNSeagull]

The government here took advantage of the falling oil price and weakening rand to bump up their fuel levy from about 28% to 41%, the buggers. The fuel price has therefore not dropped a huge amount - from about R14.20 a litre to R12.10. When I first moved here in 2004, petrol was about R2.50 a litre!

 

[Stat Brother]

It's worth noting bicycle road tax, insurance and cycle fuel duties have remained at £0.00.

 

[darkwolf666]

The worrying thing is that when the price per barrel of crude goes up again , as it inevitably will, will the price at the pump rise at the same level, i.e. if crude rises to over $ 100 dollars a barrel, will refined petrol double in price from what it is now, or go up only as high as it was before?

We all know the answer to that one, don't we.

Yes we are being ripped off - same story with gas prices, as the gas companies complain that the price is dictated by how much they buy it from, who do they buy the gas from - THEMSELVES as by and large they are the producers.

It is a fact of life that the energy companies will always try and maximise profits and get away with what they think they can. Various recent governments have talked tough on energy prices, but know that as with the case with petrol, they take a hefty chunk of the cost in taxes, so as the price falls so does their revenue, so really they don't want to see the price fall!

Shafted both ways then really, aren't we!

 

[CheeseRolls]

A tank full of petrol is costing me around 20 quid less than it used to, thanks to good old fracking. Not sure what there is to moan about to be honest.

 

[GingerBeerMan]

fact.... this system is in operation in Perth . West Oz.

Oops forgot you were in Australia. Thought you were spouting some conspiracy about illegal price fixing in the uk.

 

[AZ Gull]

Just for comparison purposes, when I got a new (second-hand) car out here back in March 2004, I started recording details of the gas I bought. The first fill-up cost $1.90 per (US) gallon.

The highest I've paid since then was in June 2008 when it reached $4.16 a gallon. It almost hit that again in April 2012, but by January this year it had dropped all the way back to $1.80 per gallon, cheaper than 11 years ago.

By July it was back up to $2.90, and is currently around $2.04.

The price can vary quite significantly from one location to another.

 

[vegster]

It's worth noting bicycle road tax, insurance and cycle fuel duties have remained at £0.00. [emoji38]

As if we needed another reminder of why cyclists are so disliked...

 

[vegster]

The government here took advantage of the falling oil price and weakening rand to bump up their fuel levy from about 28% to 41%, the buggers. The fuel price has therefore not dropped a huge amount - from about R14.20 a litre to R12.10. When I first moved here in 2004, petrol was about R2.50 a litre!

So, 70p a litre then despite an increase in tax. That's not too shabby.

 

[mreprice]

I always put $50 worth of fuel in the car. That way the cost hasn't changed for at least ten years.

 

[Norman Baker suck my lozenge]

Just saw on the news that Crude oil is now trading at $44 a barrel down from $145 a barrel a year ago..... in my recollection Petrol has gone down from £1.36 a Litre to about £1.06 a Litre... so where has the wholesale saving gone ?

It helps to prop up our corrupt government and their tyrannical allies.
Stop moaning.
We all in it together .....

 

[BensGrandad]

How will the bombing of Oil fields in Syria affect the price of oil? Apparently the biggest source of income for the IS hence the bombing to stop it benefitting them.

 

[alfredmizen]

How will the bombing of Oil fields in Syria affect the price of oil? Apparently the biggest source of income for the IS hence the bombing to stop it benefitting them.

if they bomb the syrian oilfields there will be less oil on the mkt so the price should go up , it wont though as the US and the rest of OPEC are trying to punish the russians by keeping the price low and will increase output accordingly.

 

[beorhthelm]

How will the bombing of Oil fields in Syria affect the price of oil? Apparently the biggest source of income for the IS hence the bombing to stop it benefitting them.

firstly they've been targeting oil in Syria for over a year, secondly Syrian oil is literally a drop in the ocean. prices have dropped from around $100 bbl when those strikes started.

 

[LlcoolJ]

if they bomb the syrian oilfields there will be less oil on the mkt so the price should go up , it wont though as the US and the rest of OPEC are trying to punish the russians by keeping the price low and will increase output accordingly.

This.

 

[SeagullinExile]

We should buy it from Turkey....they seem to getting some on the cheap from somewhere

 

[BensGrandad]

I didnt realise that their oil was such an insignificant amount of the total produced. I would have thought it would have created a slight shortage and subsequently caused the price to rise.