Oil price "crash" ?

[insanojackson]

Looks like the price of brent crude has crashed by about 10% over last day or so. You think we might see some petrol price reductions then?

Personally i doubt it.

[kambites]

insanojackson said:

Looks like the price of brent crude has crashed by about 10% over last day or so. You think we might see some petrol price reductions then?

Personally i doubt it.

If they stay down, then prices will probably come down a couple of pence, but not immediately. If they're only down for a couple of days, then no.

[Ved]

Well spotted. It'll likely be in flux for a bit but we never see large reductions. Fairfuel has a petition at no10 so it's probably worth signing that but again, it's really out of the people's hands to do anything.

[Gad-Westy]

Time to roll out another tax hike....

Not that I'm cynical you understand.

[jamesrose]

There is a long lag time in these prices feeding all the way through to pump.

I wouldn't get your hopes up just yet.

[Kozy]

jamesrose said:

There is a long lag time in these prices feeding all the way through to pump.

Unless the price goes up, then it's instant.

[Robatr0n]

Kozy said:

jamesrose said:

There is a long lag time in these prices feeding all the way through to pump.

Unless the price goes up, then it's instant.

Funny that, isn't it?

[Jasandjules]

Doubt it, most of the price is tax.

[Mx5guy]

If it stays down a few more days I suspect the price will drop by a few pence. Good time to buy shares in oil comapanies though (for short term).

[insanojackson]

asda apparently knocking 2p per litre off from tomorrow, woo hoo.

[martin84]

A crash has been coming for months, we'll probably see a small reduction, if the lower price remains steady we may see a lower price but i wouldnt bank on anything under £1.20 in any sort of hurry.

[Jasandjules]

insanojackson said:

asda apparently knocking 2p per litre off from tomorrow, woo hoo.

Well I can be proud of myself for filling the tank to the brim last week then!