Brent crude $100 a barrel

[Dr Jekyll]

Happy days are here again? Or will it go up again promptly?

[normalbloke]

Ah, cheap fuel at the pumps. Hurrah!




Ah, ok......

[steviegunn]

Price will depend on what the Saudis do, they turned the taps up when Libya kicked off, they could just as easily turn them back off to keep the oil price high.

Though with China slowing down Riyadh might see a high oil price as damaging to future exports if more countries look for alternatives and take serious measures to reduce oil use as part of a growth strategy.

I very much doubt oil will plunge to anything like $8bbl as it did during the 90s recession so I wouldn't go looking for a V8 just yet.

[DSM2]

[quote=

I very much doubt oil will plunge to anything like $8bbl as it did during the 90s recession so I wouldn't go looking for a V8 just yet.
[/quote]

Petrol prices probably wouldn't come down if it did...............

[Deva Link]

The dollar is strengthening so that works against lower pump prices in sterling.

[DSM2]

Deva Link said:

The dollar is strengthening so that works against lower pump prices in sterling.

Hasn't strengthened much compared with the drop in oil price.

[Hoofy]

DSM2 said:

Deva Link said:

The dollar is strengthening so that works against lower pump prices in sterling.

Hasn't strengthened much compared with the drop in oil price.

Indeed. The prices already fell 1p about 3 weeks ago. What more do you want?

[thinfourth2]

Well if fuel prices are dropping it is an ideal time for the tories to bring in the fuel price stabiliser

Other wise known as the fuel is fking expensive and will be no matter what happens to the oil price, ramp fuel duty up until everyone is fking walkingiser

[Jasandjules]

Price of a barrel makes little difference when the majority of the price you pay is tax....

[Northern Munkee]

It ain't coming down as fast as it went up, as they "big oil" know you've got used to higher prices now, so they're filling their boots on the quiet, and trying to offshore as much profit as possible while HMG plays along as it needs as much easy tax revenue as possible. And the sheeple are such a soft touch and short on memory.

[cerbfan]

Come on oil back up you go, keeps me in a job and the rates high.

Is this a selfish view point?

[BlueMR2]

DSM2 said:

said:

I very much doubt oil will plunge to anything like $8bbl as it did during the 90s recession so I wouldn't go looking for a V8 just yet.

Petrol prices probably wouldn't come down if it did...............

....and i already have a V8 .

[longone]

cerbfan said:

Come on oil back up you go, keeps me in a job and the rates high.

Is this a selfish view point?

no it's not selfish, oil price should be as high as is viable to encourage thrift. It's been manipulated down in readiness for QE3. I'd expect at least a $20 premium on today's price by the US elections.

Is it an AJP or a S6?

Colin.

[Hoofy]

Despite what I wrote earlier, I just bought at 131.9p!

[Guffy]

cerbfan said:

Come on oil back up you go, keeps me in a job and the rates high.

Is this a selfish view point?

I'm with you there too

[eliot]

BlueMR2 said:

DSM2 said:

said:

I very much doubt oil will plunge to anything like $8bbl as it did during the 90s recession so I wouldn't go looking for a V8 just yet.

Petrol prices probably wouldn't come down if it did...............

....and i already have a V8 .

Just the one V8? - not even trying.

[martin84]

Two problems I can see here:

1) The oil price goes so low the Chancellor's eyeballs turn to £ signs.

2) Eventually we all decide this Syria nonsense cannot go on any longer, get the guns out and the entire middle east is thrown into a decade long war leading to skyrocketing prices, Saudi's cutting us off as the 70s is relived.

[Tasmindevil]

Production is being increased by 1.8m barrels a day, we are losing 3.8m bpd due to maturing fields, emerging nations still show realitivly strong growth plus oil has stayed strong through the downturn, not good indicators for a huge fall in crude prices

[Hoofy]

The price has actually fallen at many garages by about 2-3p!

[V88Dicky]

Supermarket round the corner from me peaked at 139.9ppl about 6 weeks ago, it's now stopped at 130.9 for what seems like an eternity. Seems like none of them want to go sub-130.