Petrol Prices

[[TW]Fox]

Brent Crude continues to trade within a dollar or two of the record lows it saw at the end of December, when petrol fell to as low as 82.9p a litre.

Despite this, nowhere in the UK is selling below 87.9p a litre.

Why?

Current live Brent price is $41.20.

 

[Eriedor]

I was wondering this also, many places seem to be increasing in price.

 

[flat-6]

£:$ rate?

 

[Andr3w]

Over the past 1-2 months ever time i go past a petrol station it seems to keep creeping up :!

 

[Jonny69]

They seem to like swaying it up wildly then wildly back down again. It's almost like it's all a big set up.

/conspiracy.

 

[[TW]Fox]

£:$ rate?

I don't beleive the last 2 months exchange rate fluctuations have been significant enough to account for an above inflation rise in the price of retail fuel. I could be wrong, but..

 

[turboshed]

i seem to be paying over a pound a litre for diesel again, its not on really as crude is still at rock bottom prices

 

[rpstewart]

At it's low Brent crude was going for £24.50 a barrell, now it's about £31.80.

I'll add the raw figures shortly

 

[Peter Diffey]

I don't beleive the last 2 months exchange rate fluctuations have been significant enough to account for an above inflation rise in the price of retail fuel. I could be wrong, but..

I think that in December the dollar was around 1.50 to the pound, it is now below 1.40 to the pound

 

[wez130]

i've just read it at $1.3 to the £, and the € is almost 1:1 to the £ now

 

[rpstewart]

At it's low Brent crude was going for £24.50 a barrell, now it's about £31.80.

I'll add the raw figures shortly

Now that I've rescued the dinner

The above is based on a December low of ~$37 @ $1.47:£ & current figures of ~$44 @ 1.38:£ (yesterday rather than today)

 

[[TW]Fox]

At current exchange rates, a barrel of Brent Crude is £30.80.

On 1st January 2009, a barrel of Brent Crude was... £27.58.

A barrel contains 159 litres of oil. As you can see, such a price differential should not cause a 6-8p a litre increase in the price of fuel.

 

[aproctor]

THe rise could be down to the price of anything involved in fuel production, or it could be that they just wanted to raise the price.

 

[rpstewart]

A barrel contains 159 litres of oil.

That'll only give about (depending on how light/heavy the crude is) 80 litres of petrol though.

EDIT: There also may be more than usual taken as heating oil at this time of year

 

[rypt]

Petrol prices are supposed to be based on atleast 3 and usually 6 month old oil prices are they not?

 

[Janesy B]

Thats what they say when the price of oil goes down. As soon as it shoots up the oil companies seem to be ok with passing the cost on to the consumer immediately. As soon as the price goes down 'sorry mate, old oil at high prices mate'.

 

[Skeeter]

Beacase the general public 'believe' that the oil price is back to rising again, so nobody is questioning the general rise in price.

Also, its not been plastered over the front of Red Top newspapers, and as we know, large proportions of the public don't have an opinion on anything untill the Daily Mail tells them so.

 

[TaKeN]

 

[Janesy B]

The Daily mail are too busy being racist, bigoted and sensationalist to about listen to what people care about. Either that or telling me I should scrap my car and spend 10k on a crap econobox to save a bit of cash on tax.

 

[The Edge]

it's stabilised at 87-88p round here, though texaco seem to think theirs is worth 91 or 92ppl.

I think people are too busy thinking "thank god it's below £1" to worry about it too much despite the fact that, yes, we're being ripped off.