bloomin petrol prices..

mjt said:
Indeed. Blame OPEC.
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No, blame the government. Unleaded fuel to the pump costs less than 50p a litre.

World oil prices could HALVE tommorrow and we'd STILL be over £1 a litre for fuel.

The other thing keeping things high for us is the weakness of sterling. When oil was at its peak in 2008, $140 barrel of oil cost £70.

Today, despite 'only' being $103, a barrel of oil is £64.

If the BOE would stop messing around and get on with hiking interest rates, we might just see our currency recover.
 
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Ace Modder said:
the annoying thing is Shell announced record profits.
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Even more annoying that petrol is still dirt cheap - it is the government that is making it expensive for us. Luckily I do less than 5000 miles a year, so even with 20-30mpg it still isn't too bad - plus my car is mostly just for fun anyway.

Edit: Beaten to it by Fox :p
 
[TW]Fox;18403057 said:
No, blame the government. Unleaded fuel to the pump costs less than 50p a litre.

World oil prices could HALVE tommorrow and we'd STILL be over £1 a litre for fuel.

The other thing keeping things high for us is the weakness of sterling. When oil was at its peak in 2008, $140 barrel of oil cost £70.

Today, despite 'only' being $103, a barrel of oil is £64.

If the BOE would stop messing around and get on with hiking interest rates, we might just see our currency recover.
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The government needs money, and fuel is a very easy way of getting it.
As I'm sure you know, low interest rates make saving unattractive, thereby promoting borrowing and spending, thus stimulating the economy.

I thought you studied economics..
 
mjt said:
The government needs money, and fuel is a very easy way of getting it.
As I'm sure you know, low interest rates make saving unattractive, thereby promoting borrowing and spending, thus stimulating the economy.

I thought you studied economics..
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Plus fewer people smoking now, so they have to get it somewhere else. How else would we fund our invasions in the middle east and still find money for all of the benefits scroungers?
 
As long as the relative cost of motoring in the UK remains as low as it is, I have little sympathy for your fuel costs.
With the Sterling as weak as it is, it's not really that expensive compared to the rest of Europe anyway.
 
mjt said:
I thought you studied economics..
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We are discussing petrol price not the economy. People are asking why, and guessing why, petrol prices are high. I've explained why they are high and explained one factor which might occur within the next 12 months which would go a little way to easing prices.

I am well aware of the economic rationale behind low interest rates, but thats not really relevent in a thread where people are trying to apportion 'blame' for 130p a litre fuel and misdirecting it at oil companies.
 
[TW]Fox;18403190 said:
We are discussing petrol price not the economy. People are asking why, and guessing why, petrol prices are high. I've explained why they are high and explained one factor which might occur within the next 12 months which would go a little way to easing prices.
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I don't see them ever going back down tbh. The general trend has been increase after increase. Hope I am wrong.
 
CaptainRAVE said:
I don't see them ever going back down tbh. The general trend has been increase after increase. Hope I am wrong.
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Actually the general trend isn't increase after increase, we did see prices collapse in 2008 when demand destruction caused a plunge in world oil prices, but that said you are almost certainly correct in that there is no substantial downside trend to fuel prices in the short or long term.

The issue this time which is preventing the same thing happening again is that the oil price isn't actually THAT high - our currency is just THAT weak that it seems like it is - therefore it isn't crippling world demand.
 
rypt said:
Does it? Why not cut even more instead of taking even more
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For once rypt, seriously, just dont bother. Everyone is bored of seeing threads go south because you decide to have hugely strong opinions about things in reality you know precious little about and vastly oversimplify.
 
The point he is making is that if the government abolished tax on fuel tommorrow and suddenly petrol was only 49.9p a litre, Shell would make the same or greater profits as they do now.

It isn't Shell who are to blame. They don't set the price for the crude they sell anyway!
 
Maybe he should construct his posts better then, than make me out to be a liar by throwing a semi-personal insult.
 
Ace Modder said:
Maybe he should construct his posts better then, than make me out to be a liar by throwing a semi-personal insult.
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I read it that he was criticising you for implying that the greedy oil companies are profiteering off us, rather than saying Shell hadn't posted record profits?
 
Ace Modder said:
Maybe he should construct his posts better then, than make me out to be a liar by throwing a semi-personal insult.
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Dittto, you posted a single liner in a thread about shell booking record profits in a thread about high petrol prices, hence implying its them to blame and no-one else.

How else should we read it?
 
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