Oil on the way up again. Pump prices to go up.

teaboy5 · 6 Apr 2006 at 20:56

Oil is on the way back up again, as i write this it is sitting at $68+. We will soon be seeing an increase in the price of petrol at the pump. Not forgetting the other effects this has on other industries.

In my opinion we will be seeing $75-78 a barrel at the start of the driving season, as the USA has already lost 4.4 millions barrels a day and its only April.

P.S Oil this time last years was only sitting around $54 a barrel.

teaboy5 · 6 Apr 2006 at 21:00

Hmm 1.01 a litre that gotta be the most i have heard of. Well it can only get bad from here on in, with peak oil coming soon (already here in my opinion) production will be getting tighter and we will soon see prices staying well over the £1 a litre mark, and this might be by the end of the month.

teaboy5 · 6 Apr 2006 at 21:02

Whats the roll eyes for?

teaboy5 · 6 Apr 2006 at 21:09

Mr Joshua said:
If they would bring a car out that does about 70mpg, isn't too slow and doesn't cost the earth - I'd buy one!

It not just the your self you need to think about, think of the extra cost on lorry drivers who bring food to your local store. All this prices going up will soon start to have an effect on the cost of food in the shop. Now you might say "sure it’s only a few pounds more", but add all the little extras up each week and some people might find they are spending between 50-60 pound more. Also the effect oil going up has on the airlines is massive, when oil hit $70 a barrel last year a lot of airlines where losing millions a day. Think what will happen when it hits $80 a barrel :eek:

And i got laughed at for saying that in an AIRBUS thread in GD. Airlines and cheap flights will be the first to go.

teaboy5 · 6 Apr 2006 at 21:20

The reason it costs more, because it costs more to make. And since more people are using it, more has to be made.

teaboy5 · 6 Apr 2006 at 21:31

what happens when theirs no fuel to use it with

teaboy5 · 6 Apr 2006 at 21:40

[TW]Fox said:
No, this is not the reason why it costs more. It costs more for one reason and one reason alone - becuase the UK government changed the tax levels for diesel fuel. This is why it's cheaper in the EU, it's purely a tax thing.

Don't for one minute think current fuel prices are outside the governements control. Even if oil was $100 a barrel fuel would still cost under 35p a litre if we were not being taxed on it.

But its not the tax thats going up, its the cost that is driving the cost up. Also if the government said lets take 10p of per litre, where the hell is it gonna make that loss up?

teaboy5 · 6 Apr 2006 at 21:47

Fox dont get into that. Tax wont be going down at time soon. The point i am trying to get across is that fuel is on the way up, o and dont forget the tax will be going up in about 4 months time so that should be fun. Fox can you not understand what will happen will oil sits at $100 a barrel, a lot of people will be losing their jobs as the price of energy will be going through the roof.

teaboy5 · 7 Apr 2006 at 20:05

panthro said:
how did you work that one out? the cost of refining oil will always remain the same, unless a different refining process is discovered!

I wasn't talking about the cost of making oil. The cost of making desiel is more than petrol.

teaboy5 · 10 Apr 2006 at 18:26

Just thought i would bump this up. Oil is now way past $68+ a barrel. Wonder how high it will go before the end of the month.

teaboy5 · 18 Apr 2006 at 00:19

Well get ready to pay more, oil is sitting at $71.95 as i type this. Over the next few months and years $70 oil is going to look cheap

.

teaboy5 · 18 Apr 2006 at 00:36

Just trying to make people aware. Its a long story, i suggest you read up on peak oil - netoil and see whats in store for the world. Also you say people get used to it going up a little each time, the thing is where it does it stop £1, £2 and so on?