Petrol prices set to soar?
Average price at the pumps hits 84p/litre
Fuel prices could rocket
According to Reuters, "average domestic pump prices for premium unleaded petrol rose last week to 84p a litre on Friday, nudging towards the domestic record of 85.3p in June 2000 that spurred massive nationwide protests and fuel blockades in September of that year."
Crude oil prices are volatile at the moment, as the AA Motoring Trust's Ben Morris pointed out. He said that petrol prices could land some 5p per litre either side of current levels as a result. He reckoned though that current fluctuations would have to get much wilder before the average price reached 90p. However, premium products such as BP Ultimate are already close £1 per litre at motorway service stations -- your PH reporter paid 96.7p recently.
Oil futures predictions from Oil Price Assessments Limited (OPAL) aren't good though. According to OPAL's Jose Blanco, margins are generally low -- some 4p per litre -- but UK forecourt petrol is currently being sold at a loss.
On the mainland, things are little better. The average German petrol price has risen to 1.207 euros a litre -- that's 83p at the today's exchange rate, and that's fairly typical of western Europe.
Meanwhile, Brent crude oil futures hit a record high of $57.65 a barrel this week, as traders worried that world crude oil production and refining capacity would have problems keeping up with demand.
Optimax at £1/L bugger. 
And my diesel car is just days away and I notice Diesel is hitting 89p in some places This could be a major issue in the election, trucking companies are going to demand lower fuel prices. Then again, it's not the same as 2000, because the whole of Europe is in the same boat.
Can you devalue a barrel of oil like you can with currency I wonder?
I'm that old to remember petrol reaching £1 for a gallon ! end of 70's maybe
I get it double as bad though - coz I use oil for the central heating - that's now £28p litre (more expensive thru the big suppliers). 4 years ago it cost 9.6p a litre !
I was watching a investment program on oil the other night and they predicted a rise to $100 barrel is possible !!!
It's just the tax that continues to be the most galling factor at the pumps. If the genuine price of a litre of fuel has risen, then there is still 70%+ taxation to be added.
IIRC, the UK has one of the lowest fuel costs per litre, at about 17p. The rest is tax and then VAT on top.
What we need in the UK is not lower fuel prices. We need the government to get it's greedy mitts off the taxation scam they have going at the pumps.
The first government with balls big enough to cap all fuels at the pumps at say 60p/ltr would be voted in tomorrow!
Matt
shadowninja said:
Marvelous...
Maybe i'll have my car converted to run on liquid Gold since its marginally cheaper!!
When do we stop grumbling and start getting something sorted on mass??
We don't. Stiff upper lip and all that.
Crikey.. many moons ago we would be out on the streets stiking over.. well just about anything..
Now we just moan and grumble quietly in our groups!!
Right i just need about 2 million mates to take a stroll to Westminster.. whose coming?
ian d said:
we certainly need to do something, even at $55+/bbl petrol and diesel is still about 20p/litre ex refinery......we are being taken for suckers.....
Errr. On May 5th you the opportunity to do something. Lets hope that petrol prices soar, there is a petrol strike and all before May 5th...
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