grober
MB Master
Phew that's a relief - no chance of the oil companies, fuel distributers and retailers ripping us of then.
Oil has fallen from about $115 (£72) per barrel in June to about $84 per barrel, a decline of about a quarter. In comparison, petrol prices in the UK have fallen from a high of about 131.7p per litre in the summer to 124.22p - a decline of about 6%. Diesel dropped from 136.37p to 128.58p.
Oil has fallen from about $115 (£72) per barrel in June to about $84 per barrel, a decline of about a quarter.
BBC News - Osborne 'expects' fuel price drop after fall in oil price
Widely held to be due to the USA shale gas bonanza its partly offset in the UK by a drop in the value of the pound against the dollar as the US economy improves [ oil being traded in dollars]. During the past few months, the pound has weakened against the dollar. Whereas a pound bought $1.7165 at its height in the summer, it now buys $1.598 - a drop of 6.9%
However there was interesting discussion on radio 4 this morning that part of the effect is due to Saudi Arabia and OPEC losing control of their Oil supply/price . In the past Saudi Arabia controlled oil prices by simply turning off the tap [ production] a bit. It appears however that their internal domestic demands may now be restricting their room for manoevre? They use more oil than Brazil for example with a fraction of the population!
Discussion with Prof Nick Butler of Kings College starts 10mins 14 secs in- worth a listen. BBC Radio 4 - Today, 06/11/2014
Ps I'd like if possible to avoid the aspect concerning the role of government taxation policy in fuel prices as this aspect of fuel costs been done to death many times on here before . For the purposes of this thread lets take it as a given like death!
Oil has fallen from about $115 (£72) per barrel in June to about $84 per barrel, a decline of about a quarter. In comparison, petrol prices in the UK have fallen from a high of about 131.7p per litre in the summer to 124.22p - a decline of about 6%. Diesel dropped from 136.37p to 128.58p.
Oil has fallen from about $115 (£72) per barrel in June to about $84 per barrel, a decline of about a quarter.
BBC News - Osborne 'expects' fuel price drop after fall in oil price
Widely held to be due to the USA shale gas bonanza its partly offset in the UK by a drop in the value of the pound against the dollar as the US economy improves [ oil being traded in dollars]. During the past few months, the pound has weakened against the dollar. Whereas a pound bought $1.7165 at its height in the summer, it now buys $1.598 - a drop of 6.9%
However there was interesting discussion on radio 4 this morning that part of the effect is due to Saudi Arabia and OPEC losing control of their Oil supply/price . In the past Saudi Arabia controlled oil prices by simply turning off the tap [ production] a bit. It appears however that their internal domestic demands may now be restricting their room for manoevre? They use more oil than Brazil for example with a fraction of the population!
Discussion with Prof Nick Butler of Kings College starts 10mins 14 secs in- worth a listen. BBC Radio 4 - Today, 06/11/2014
Ps I'd like if possible to avoid the aspect concerning the role of government taxation policy in fuel prices as this aspect of fuel costs been done to death many times on here before . For the purposes of this thread lets take it as a given like death!
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