Petrol Price Plummet

Just filled up at Asda this morning £1.12 a litre . That's dropped 4p since last Thurday.

 

Hmmmm, interesting. I bet other prices remain unchanged. Good to see the fuel price dropping at the pumps though. Fuel costs take a fair slice of my income due to travelling.

 

Down to 117 litre at Morrisons yesterday

 

Dont expect to see a massive change in line with the price of crude.
The Government gets the largest slice out of a gallon.
Next thing will be the government winging about not getting the VAT % that they expected from fuel.

Interesting to see the oil companies are slashing jobs, blaming the price of crude?
They are probably selling just as much, if not more, of the stuff.

So are we to assume these jobs were not really there in the first place.

 

I also thought that gas and electricity prices were linked to the price if oil or am I wrong?

 

Its a bit like when the Pound falls against the Dollar, we get the old sad story that we buy oil in Dollars, so petrol will have to go up.
Never heard the reverse said though.

I dont think we win either way, because I can see other taxes rising in the future to counteract the fall in revenue from oil.

 

If the price of Petrol/Diesel is linked to Crude oil prices it should be a lot lower at the pumps now...I think we are still getting a raw deal if thats the case

 

Mowgley they are 100% carbon steel linked to oil price as it rises , that's the way the market works we are told. Unfortunately as prices fall this rule cannot be applied due to fat cats wanting to make loads of spondoola . So the Monetary Unified Gullible factor kicks in , known as the MUGs factor. This ensures the big guys win and we loose as always....when will it ever change.

 

The price of fuel is slowly dropping here although being an island our prices are higher than on the mainland. Currently £1.29 a litre, unleaded.

However, I've just heard from my daughter-in-law in Columbus, Ohio, where their fuel is dropping in price too. She filled up today at $1.49 a GALLON which is approximately 95P!

 

I know its a lot cheaper than here, but that's mostly down to tax.

The Yanks like everything bigger than us,........ but they do have a small GALLON.

 

Paid £1.04.9 yesterday after Tesco Fuel Save, and as we've been buying gift cards at Tesco (to get stuff elsewhere with 7% CC Points) with 4p off/L/£100, our next fill up will cost less than £1/L.

 

I think it's all Political. The Saudi's are blaming producers outside OPEC, along with speculators and misleading information for the price slump. The U.S is producing record amounts of oil.
The Russians are blaming the West.
Allegedly many many jobs could go.
What chance has the ordinary working class got !!!,.

 

Falling oil prices is not all good news. This article explains why.

I for one am hoping prices stabilise soon. I've already seen my pension fund values drop dramatically as share prices drop, although they are starting to creep back up. Last thing we want is for it to affect recovery in the States, cos we'd all suffer in the longer term.