Nucky Thompson Posted October 13, 2008 Share Posted October 13, 2008 I was reading that the price of oil per barrel is down to it's lowest price in over a year. If that's the case why am I still paying ?1.16 a litre for diesel when I was getting it for 95p last October:mad: Fecking robbing Bassas. Link to comment Share on other sites More sharing options...
belly Posted October 13, 2008 Share Posted October 13, 2008 I was reading that the price of oil per barrel is down to it's lowest price in over a year. If that's the case why am I still paying ?1.16 a litre for diesel when I was getting it for 95p last October:mad: Fecking robbing Bassas. I read/heard that it takes up to 8 weeks to filter through to the pumps, but only when the price drops, when the price goes up, so does the price at the pumps instantly. Link to comment Share on other sites More sharing options...
Nucky Thompson Posted October 13, 2008 Author Share Posted October 13, 2008 I read/heard that it takes up to 8 weeks to filter through to the pumps, but only when the price drops, when the price goes up, so does the price at the pumps instantly.The big oil companies have got us by the balls:cool: Also, why is diesel went a lot dearer than unleaded? They used to be roughly the same price. Link to comment Share on other sites More sharing options...
Eggo Posted October 13, 2008 Share Posted October 13, 2008 Sorry boys i'll have a word with my bosses and see if we can get more down to you...cheaper of course:) I'll nip out and turn the Ninian field tap on a bit more;) Link to comment Share on other sites More sharing options...
Boof Posted October 13, 2008 Share Posted October 13, 2008 ...why am I still paying ?1.16 a litre for diesel... Because you don't live in Shetland - ?1.25 for unleaded, another 10p or so for Diesel Link to comment Share on other sites More sharing options...
Grumpy Posted October 13, 2008 Share Posted October 13, 2008 I read/heard that it takes up to 8 weeks to filter through to the pumps, but only when the price drops, when the price goes up, so does the price at the pumps instantly. They also said there was a link between the price of oil and gas / electricity which was sited as a reason for the recent price increases. I don't notice my gas or electricity prices coming down yet. Suppose it'll take them several months for that to work through the sytstem as well. Link to comment Share on other sites More sharing options...
Eggo Posted October 13, 2008 Share Posted October 13, 2008 Because you don't live in Shetland - ?1.25 for unleaded, another 10p or so for Diesel Boof,that wee garage at Voe was 1.49 for diesel a few weeks back:eek: Link to comment Share on other sites More sharing options...
jamboinglasgow Posted October 13, 2008 Share Posted October 13, 2008 its not just the petrol industry that react slowly to changes when things go down. The Banking industry will put up interest rates as soon as the bank of england raises its rates but should the BoE put rates down than it takes longer to change. Link to comment Share on other sites More sharing options...
Boris Posted October 13, 2008 Share Posted October 13, 2008 I thought it was always the Govt's fault as they tax it too much, right? the point the OP has raised is why rags like the Daily Mail who all have thrombo's about "stealth taxes" and the like should belt up. Quick to castigate someone else when the oil companies are putting the price up yet silent when the opposite happens. Perhaps we shall see some truckers protesting and blockading roads over this? Doubt it. Fools. Link to comment Share on other sites More sharing options...
Guest S.U.S.S. Posted October 13, 2008 Share Posted October 13, 2008 The price is down? Wondered why fat eck wasnt banging on about how much money we'd get from Oil this week. Link to comment Share on other sites More sharing options...
Gershwin Posted October 13, 2008 Share Posted October 13, 2008 Just take the bus. Link to comment Share on other sites More sharing options...
Jammy T Posted October 13, 2008 Share Posted October 13, 2008 Quick bursts of inflation like we had in oil (and in food) this year are a dream for all retailers of things we need. Whilst it causes pain we are now used to higher petrol, gas bills, train fares, loaves of bread etc The price will come down but not to the previous levels. We'll moan a bit / a lot but we need to buy this stuff to survive, all companies need to improve their margins so will take advantage of the situation. I doubt oil will stay under $100 for any length of time either. The markets also got us used to the idea of plus $100 oil, OPEC got used to it - it will climb back up Link to comment Share on other sites More sharing options...
Charlie-Brown Posted October 13, 2008 Share Posted October 13, 2008 Peak Oil has now happened whether it is officially acknowleged or recognised yet or not - in terms of conventional oil reserves more is now being consumed than is being discovered - higher oil prices will make currently less-economic extractions more viable and also alternative-fuel-energy sources or non-conventional oil sources more price competitive...it will also act as a catalyst for further technological improvements or efficiences...necessity is the mother of invention. Prices will fluctuate up and down but from now on they will always be higher on average than they have been historically. Link to comment Share on other sites More sharing options...
BlackJAC? Posted October 13, 2008 Share Posted October 13, 2008 I read/heard that it takes up to 8 weeks to filter through to the pumps, but only when the price drops, when the price goes up, so does the price at the pumps instantly. Unfortunately that's the way most things work in life. Quick taking the money but not so quick returning it. they're all a bunch of robbing *******s. Link to comment Share on other sites More sharing options...
Prince Buaben Posted October 13, 2008 Share Posted October 13, 2008 Morrisons at Granton are ?1:02 and Tesco at Hardengreen is also ?1:02 Link to comment Share on other sites More sharing options...
Boof Posted October 13, 2008 Share Posted October 13, 2008 Boof,that wee garage at Voe was 1.49 for diesel a few weeks back:eek: Not a surprise just :mad:ening That'll be Voe...10 miles from Sullom Voe...one of Europe's largest oil and liquefied gas terminals (okay, not a refinery so we drivers couldn't actually use any of the brown stuff... but still...) Link to comment Share on other sites More sharing options...
Eldar Hadzimehmedovic Posted October 13, 2008 Share Posted October 13, 2008 In some parts of North America petrol at the pumps fluctuates wildly based on the price of oil. The peaks and troughs are almost instant, certainly no more than a couple of days behind. I have no idea why that doesn't happen in the UK. Link to comment Share on other sites More sharing options...
The Mighty Thor Posted October 13, 2008 Share Posted October 13, 2008 You should look up the excuses spouted by Mr Ray Holloway chairman of the Petrol Retailers Association. There's a time lag as oil bought now won't be on the forecourt for up to 10 weeks - But prices go up overnight!!! The weak Pound could drive prices up further - They went up when the USD was 2 to the pound The boy has got the book of bull**** excuses off to a tea. He looks an odious little see you next Tuesday as well. Link to comment Share on other sites More sharing options...
portobellojambo1 Posted October 13, 2008 Share Posted October 13, 2008 Quick bursts of inflation like we had in oil (and in food) this year are a dream for all retailers of things we need. Whilst it causes pain we are now used to higher petrol, gas bills, train fares, loaves of bread etc The price will come down but not to the previous levels. We'll moan a bit / a lot but we need to buy this stuff to survive, all companies need to improve their margins so will take advantage of the situation. I doubt oil will stay under $100 for any length of time either. The markets also got us used to the idea of plus $100 oil, OPEC got used to it - it will climb back up Oil is on the increase a little again, following this morning's revival of the stock markets, but today it is still well below $100, crude is selling at $82.52, in comparison with around $77 last month. However longer term predictions by analysts are that the price of oil is liable to fall again rather than increase, and stay down, as alternative fuel sources are further developed and their use increases. Link to comment Share on other sites More sharing options...
Jammy T Posted October 13, 2008 Share Posted October 13, 2008 Oil is on the increase a little again, following this morning's revival of the stock markets, but today it is still well below $100, crude is selling at $82.52, in comparison with around $77 last month. However longer term predictions by analysts are that the price of oil is liable to fall again rather than increase, and stay down, as alternative fuel sources are further developed and their use increases. Oh agreed - when I say "any length of time" I mean a handful of months - as opposed to days. But the next upward trend of oil - once it bottoms out completely, possibly down to $50 briefly will see us sail past $147 IMO. The next upward trend probably not as dramatically quick as this years, but longer and more powerful up move - which will stick above $100 for good. Link to comment Share on other sites More sharing options...
Peebo Posted October 13, 2008 Share Posted October 13, 2008 Peak Oil has now happened whether it is officially acknowleged or recognised yet or not - in terms of conventional oil reserves more is now being consumed than is being discovered - higher oil prices will make currently less-economic extractions more viable and also alternative-fuel-energy sources or non-conventional oil sources more price competitive...it will also act as a catalyst for further technological improvements or efficiences...necessity is the mother of invention. Whether or not Peak Oil has happened is a moot point, despite this, and many other claims that it definitely has. As you say, higher prices enhance the economics of many projects...and as it happens, the current price actually renders a lot of unconventional projects uneconomic. This, of course, will reduce supply in the future. However, one of the current fears within OPEC is that the high prices are already having a terminal effect on demand. Peak Oil isn't about simply about discovering more oil, it's about the production of it. There is absolutely shedloads still sitting there, but, in my opinion, the vast majority of it will remain in the ground forever more. As for who is to blame for high forecourt prices, the reality is that the "big oil" companies actually have very little influence. The margin on petrol at the pump is pitiful, and is lower in the UK that most other countries in Western Europe. Link to comment Share on other sites More sharing options...
alwaysthereinspirit Posted October 13, 2008 Share Posted October 13, 2008 We were paying about $4.05 in the spring. Now seeing it at around $2.90. Link to comment Share on other sites More sharing options...
Dagger Is Back Posted October 13, 2008 Share Posted October 13, 2008 its not just the petrol industry that react slowly to changes when things go down. The Banking industry will put up interest rates as soon as the bank of england raises its rates but should the BoE put rates down than it takes longer to change. Spot on. I remember falling out with my bosses again at Standard Life Bank when I told a customer that the delay in passing on interest rate cuts was to allow us to make a wee bit extra profit. When challenged by the boss, I asked him what I should have said and his reply was 'we have to change interest rate leaflets etc. and do mailings to customers which takes time. Complete bollox. Link to comment Share on other sites More sharing options...
trotter Posted October 14, 2008 Share Posted October 14, 2008 The big oil companies have got us by the balls:cool: Also, why is diesel went a lot dearer than unleaded? They used to be roughly the same price. Diesel is a lot less prevalent a fraction in crude oil (generally speaking) than petrol is and there is a natural supply/demand imbalance. Therefore it requires a lot more processing to produce than petrol does. Also, impurities (read sulphur) tend to occur in greater quantities in the higher-boiling oil fractions (diesel) than in the lower ones (petrol). These require even more processing to remove. Diesel is also more denser in energy than petrol is, and thus worth more. HTH (",) Link to comment Share on other sites More sharing options...
Miller Jambo 60 Posted October 14, 2008 Share Posted October 14, 2008 I was reading that the price of oil per barrel is down to it's lowest price in over a year. If that's the case why am I still paying ?1.16 a litre for diesel when I was getting it for 95p last October:mad: Fecking robbing Bassas. Simple ruled by ENGLAND. BROWN and BURLEY should shake hands and say. WE ARE THE WORST. Link to comment Share on other sites More sharing options...
Miller Jambo 60 Posted October 14, 2008 Share Posted October 14, 2008 Just take the bus. And that runs on air not Link to comment Share on other sites More sharing options...
Cigaro Posted October 14, 2008 Share Posted October 14, 2008 Morrisons at Granton are ?1:02 and Tesco at Hardengreen is also ?1:02 Tesco seems to have been running out of unleaded a lot recently for some reason. Also, with the 5p off vouchers its under ?1 97.9p per litre. Ah those were the days:rolleyes: Link to comment Share on other sites More sharing options...
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