Worrying drop in fuel prices.

[renault12ts]

It's a funny old world, the price of oil is falling falling, we should be happy...but we are doomed.

Anybody else worried about this, or am I alone?

 

[merc85]

As long as its still there when i need some im not worried lol, or should i be??

 

[KillerHERTZ]

Huge Duty rises on the Horizon I tell ya!

 

[stevehg]

Just posturing and playing hardball. Started with the Middle East taking umbrage to the increase US production from fracking etc. That costs more to extract.

Then just recently Saudi and Iran added another equation, and beat it down a bit more.

It will all be back to normal over inflated UK prices in 2-3 years.

 

[StuartK]

Very I've started tightening the belt back in November. The next two years will be tough.

I had a substantial amount of shares in the largest estate agent group in Britain. 2 years ago they were £7.40 today they are £3.51 and have been dropping rapidly over a few months. I left a senior management role there a year ago because our London branches started to see falling sales volumes. Traditionally every time this has happened in the history of the company the rest of the U.K. Follows. After I left many senior board members left quite abruptly and the Chief Executive stood down after decades. This was no accident.

The housing market is a good indicator of success of the economy. House prices have risen sharply, this is not due to a recovering market/confidence. This is due to quite the opposite and in fact the lack of supply is causing this.

I took a £20k pay cut when I left, people think I'm mad. I just know when a good thing is coming to an end and I didn't want to be the one left holding the parcel.

The fall in price of oil will only cause worry more.

 

[AMGeed]

The drop in oil price is good for the consumer at the moment, but George Osborne is no fool. As mentioned already, duty will rise sharply and fuel prices will still remain artificially high. As always, fuel prices never drop in line with oil prices.

Oil workers are going to suffer with job losses as production is eventually cut right back. The Saudis in particular will be very uneasy as without oil revenue they have nothing.

Only my opinion of course

 

[st13phil]

I'm old enough to remember the oil price shock in the 1970's when it went in the opposite direction. A long way. Very rapidly.

Guess what? We're all still here.

Plus ça change...

 

[renault12ts]

The drop in oil price is good for the consumer at the moment, but George Osborne is no fool. As mentioned already, duty will rise sharply and fuel prices will still remain artificially high. As always, fuel prices never drop in line with oil prices.

Oil workers are going to suffer with job losses as production is eventually cut right back. The Saudis in particular will be very uneasy as without oil revenue they have nothing.

Only my opinion of course

The Saudis are worried because they are having to introduce "austerity" measure...this could lead to unrest. Better the devil you know.

 

[st13phil]

The Saudis in particular will be very uneasy as without oil revenue they have nothing.

And that's bad because?

Perhaps it will curtail the rest of their "exports"?

 

[flango]

One of the biggest worries is the big oil companies like BP underpin some of the biggest pension funds. A drop in stock price means more doom and gloom for those looking at retirement in the next five years.

 

[AMGeed]

And that's bad because?

Perhaps it will curtail the rest of their "exports"?

What have the Saudis ever done for us?

Never said it was bad Phil, just that oil is their only revenue and without it they are back to pre 1970's. Dubai would be in the same boat if it wasn't for Abu Dhabi.

 

[WDB124066]

One way to help ease the effects of 2008 while putting pressure on Putin...

Between BP and Shell 10 000 have been laid off recently. Still, it makes for cheap airfares and a booming aviation sector. I've switched already...

 

[moonloops]

One way to help ease the effects of 2008 while putting pressure on Putin...

Putin on the Ritz

 

[WDB124066]

He's getting twitchy....

https://www.rt.com/news/329126-qatar-emir-moscow-visit/

 

[st13phil]

...and without it they are back to pre 1970's.

Like I said, where's the problem?

What goes around comes around...

 

[fabes]

One of the biggest reasons that 'they' are doing what they can to drive oil low is to curtail Russia's fortunes

Mr V Putin needs $100 a barrel
He rebased his budget on $50 late last year
The recent review to $40 has now been further hit as oil is at$30
The ruble hit all the ones this week - that's 111 to the pound

The Saudi Iran thing is a side show and China is having an impact, but the main driver is what the US is doing with fracking to reign Russia in.

Duty rise has to come as the NHS, education etc needs funding and whilst some tax revenues are increasing as the economy turns, the fuel duty and VAT on it has dropped a bit (though the 58ppl plus Vat is protected)

For the moment though, enjoy it (unless you work in oil and then I feel for the next 2 to 3 years)

I lucked in for once in getting 2 extra cylinders so will enjoy it before getting a hybrid as my next car in 5or x years time

Just my two penith

 

[Deleted member 37751]

Anybody else worried about this

"Worry is like a rocking chair.

It will give you something to do but it won't get you anywhere."

- Erma Bombeck

 

[markjay]

Worry not, OPEC will reduce production and oil prices will go back to $100 per barrel as soon as the US shuts-down some of its oil wells due to uneconomic production.

That is the purpose of the exercise, plus depriving the (post-sanctions) Iranians and Russians from some much-needed oil revenue.

With OPEC producing 40% of the world's oil supply - a legal cartel - they can do this.

In the mean time markets become nervouse and my Pension Fund (like many others) is plumetting...

Next we'll hear the Chancellor declaring austerity measures due to decline in fuel duty revenue.

So not such great news. Long term pain in return for short term relief.

 

[WDB124066]

"Worry is like a rocking chair.

It will give you something to do but it won't get you anywhere."

- Erma Bombeck

Well not unless you turn the worry into a solution and enact it....

 

[219]

Very I've started tightening the belt back in November. The next two years will be tough.

I had a substantial amount of shares in the largest estate agent group in Britain. 2 years ago they were £7.40 today they are £3.51 and have been dropping rapidly over a few months. I left a senior management role there a year ago because our London branches started to see falling sales volumes. Traditionally every time this has happened in the history of the company the rest of the U.K. Follows. After I left many senior board members left quite abruptly and the Chief Executive stood down after decades. This was no accident.

The housing market is a good indicator of success of the economy. House prices have risen sharply, this is not due to a recovering market/confidence. This is due to quite the opposite and in fact the lack of supply is causing this.

I took a £20k pay cut when I left, people think I'm mad. I just know when a good thing is coming to an end and I didn't want to be the one left holding the parcel.

The fall in price of oil will only cause worry more.

Hmmm - I know little of high finance , but our house cost £65 K when we bought 17 or 18 years ago , it has perhaps appreciated 50% since then , is now paid off and we have no plans to sell or move .

I rather think the bubble will burst first in the south where prices are over inflated and people tend to extend themselves too far .

My cars are also paid for in full , and with retirement not that very far away , the price of fuel will mainly impact on my annual mileage .

I'm not about to buy a Chevvy Matiz or suchlike .