Does anyone knows why petrol prices are going up weekly!
Discussion
Silver said:
An additional US fleet has moved towards the Gulf, Syria unresolved etc. However, another considerable factor which is always ignored is that it isn't always the price of oil that is rising but rather the price of the US Dollar and British Pound which is falling.
The seeming rise of commods is always the clear proof of the inflation from money printing as domestic prices can be contained.
Both the US and GB are about to do another money printing exercise and the common markets have been factoring this in advance.
From one link 'Late in the week, oil prices fell sharply after the UK government revealed that it was preparing to ask the International Energy Agency (IEA) to tap into its strategic reserves to bring down oil prices.'
Let's hope prices come down quick. I thought the Saudi was going to release more oil due to Iran reducing its output!
Let's hope prices come down quick. I thought the Saudi was going to release more oil due to Iran reducing its output!
Ozzie Osmond said:
Should'a filled up when the price was down. 
I did! Managed a bit of SuperThrifting by buying loads of tea for the office (And about a years of cereal), getting the Tesco 50p/litre off voucher and filling up with Momentum (car was on fumes)... £50.Best of all, I have now broken the car through careless spannering so am using absolutely *no* fuel!
nicanary said:
Huge demand in the USA at present
No, low demand in the USA at present.http://www.reuters.com/article/2012/08/17/us-usa-a...
Whats happened is that the oil price has exploded again purely as a result of market speculations. There MIGHT be a war in Iran. There MIGHT be supply problems out of Syria. The economy is getting so bad there MIGHT be further stimulus which MIGHT increase demand.
If only you had to actually take delivery of oil when you bought a futures contract.
robm3 said:
Can I ask what is the price of unleaded (91/95/98) these days in UK?
In Australia we're paying $1.50 -$1.64 or around £0.99 to £1.08
Seems expensive here too (well does when your 6.2litre speedboat has a 200litre fuel tank!).
95 Unleaded is about £1.34/1.35 a litre, 98 is typically about 5-6p more. We don't have 91 In Australia we're paying $1.50 -$1.64 or around £0.99 to £1.08
Seems expensive here too (well does when your 6.2litre speedboat has a 200litre fuel tank!).
There was a piece about the price rises on the news the other night.
All to do with the price of crude oil going up due to the Syria situation and the block on trade with Iran (I think?).
Supposedly fuel prices will shoot right up to record highs by the end of the month i.e. unleaded at 1.40!
All to do with the price of crude oil going up due to the Syria situation and the block on trade with Iran (I think?).
Supposedly fuel prices will shoot right up to record highs by the end of the month i.e. unleaded at 1.40!
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