Low oil prices.

Kronos

Kronos

Kronos

Soldato
Joined
11 Nov 2009
Posts
4,784
Location
Edinburgh
Just watched a news article about the 4 year low all price and noted that oil prices have been low for some time now. Not owning a car I am not aware of petrol prices though I am aware that companies supply this product have in the past used high oil prices to justify a hike in pump prices.

So the converse surely must be true, are you car owners seeing pump prices drop and if so by how much?
 
No because the entirely competent OFT looked into the so called "rocket and feather effect" thoroughly and found there was no evidence of it happening, and people were just imagining it.

I know Danny Alexander has said he's going to write to the big oil companies asking that they reduce prices, but there are reports that the government are planning to re-invigorate the fuel duty escalator. Only thing that's for sure is that the motorist will continue to have to pay through the nose to someone.
 
Diesel prices are down, and heating oil is by a long way the cheapest it's been in the 2.5 years I've been buying it.

So yes, we're seeing the reduction
 
Yep see it at the pumps. To think at its peak i was paying around 1.55 when things were bad for diesel when ever it was

Nice and stable at 1.24,

Not seen it above 1.30 where i get mine from for a while!

Just keeps going down
 
cheesyboy said:
Diesel prices are down, and heating oil is by a long way the cheapest it's been in the 2.5 years I've been buying it.

So yes, we're seeing the reduction
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Yeah but fuel at the pumps is down by around 5% from its all-time high, oil is down by around a third from its all time high at the same time.
 
A BP garage that I pass has two cheaper fuel days a week, yesterday being one of them and the normal unleaded petrol was 1.19 a litre.

So it has come down a bit compared to 1.33 a couple of months ago.
 
Petrol is now 120.7 at ASDA filling stations if you happen to live near one (i sadly dont, but i commute past one daily).

So yep, definitely seeing this reduction
 
I thought the reduction atm was because supermarkets was having a price war on fuel? (So then the likes of BP etc have to lower too)

Even if the price of oil does not change prices will go back up after.
 
scorza said:
Yeah but fuel at the pumps is down by around 5% from its all-time high, oil is down by around a third from its all time high at the same time.
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Go and google the makeup of the price of a litre of retail fuel in the UK :) Margins are so low that Total for example pulled out of the retail market altogether!
 
scorza said:
No
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Actually 'Yes' but don't let the facts get in the way of your argument.

scorza said:
Yeah but fuel at the pumps is down by around 5% from its all-time high, oil is down by around a third from its all time high at the same time.
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It's more like 10% - 133.9p for unleaded at it's peak down here and yesterday it was priced at 119.9p. So double your figure (Which was still an improvement from your flat out 'No' I guess).

What more would you expect? Oil makes up a small proportion of the price of road fuel - which is why a 30% reduction in oil prices does not translate into a 30% reduction of retail fuel prices.
 
Cuts in fuel prices are not a good idea in my opinion. We will never encourage people to be efficient with any form of energy, used anywhere, when we drop prices.

We should follow the Danish model and force efficiency by raising the price.
 
dirtychinchilla said:
Cuts in fuel prices are not a good idea in my opinion. We will never encourage people to be efficient with any form of energy, used anywhere, when we drop prices.

We should follow the Danish model and force efficiency by raising the price.
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Energy prices are reflected in almost everything we do from food through to services. I dont see that squeezing the public further on every single angle is something the government would be too keen to do?
 
[TW]Fox;27167687 said:
Actually 'Yes' but don't let the facts get in the way of your argument.

It's more like 10% - 133.9p for unleaded at it's peak down here and yesterday it was priced at 119.9p. So double your figure (Which was still an improvement from your flat out 'No' I guess).

What more would you expect? Oil makes up a small proportion of the price of road fuel - which is why a 30% reduction in oil prices does not translate into a 30% reduction of retail fuel prices.
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The point of the "No" post was to raise the subject of the rocket and feather effect.

http://www.bbc.co.uk/news/business-29924710

BBC says 6% - I'm sure they said 5% on the Today Programme this morning but never mind. Like you say, why let facts get in the way of an argument.
 
OldCoals said:
I have noticed the lower cost of fuel, not sure how it has followed the global price of oil if that makes sense but it is lower.

Interestingly Danny alexander has called for more cuts to the price.

http://www.bbc.co.uk/news/business-29924710
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I was listening to that earlier.

To sum it up, the price of crude oil has reduced by 25% but the reduction to the pumps is only 6%!
 
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