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skippy41
 Post subject: Oil going down
PostPosted: Mon Oct 06, 2008 9:43 pm 
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As the price of oil falls why are we still paying £1.20 for diesel at the pumps???????????????????

http://www.oil-price.net/
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taxiCABman
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PostPosted: Mon Oct 06, 2008 9:57 pm 
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just filled up 122.9 at local tesco
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skippy41
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PostPosted: Mon Oct 06, 2008 10:07 pm 
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taxiCABman wrote:
just filled up 122.9 at local tesco


Its £1.18 at tesco up here but its 18 miles away :sad:

So much for the same price nationally
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Brummie Cabbie
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PostPosted: Mon Oct 06, 2008 10:13 pm 
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115.9p at Shell Northfield in Birmingham since Saturday.

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skippy41
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PostPosted: Mon Oct 06, 2008 10:16 pm 
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due to the government continually reshuffling more than a poker dealer who do we contact to get the price down at the pumps
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Brummie Cabbie
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PostPosted: Mon Oct 06, 2008 10:21 pm 
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skippy41 wrote:
due to the government continually reshuffling more than a poker dealer who do we contact to get the price down at the pumps


The Ministry of Pump; MOP for short!!!

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captain cab
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PostPosted: Tue Oct 07, 2008 5:21 pm 
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skippy41 wrote:
due to the government continually reshuffling more than a poker dealer who do we contact to get the price down at the pumps


The treasury. :wink:

The Daily Mail on Saturday seemed to reckon fuel could come down big style.

CC

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jason cole
 Post subject: Re: Oil going down
PostPosted: Tue Oct 07, 2008 6:47 pm 
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skippy41 wrote:
As the price of oil falls why are we still paying £1.20 for diesel at the pumps???????????????????

http://www.oil-price.net/

Because you don't buy crude oil at the pumps, you buy refined products. Shortages in refinery capacity (e.g. maintenance) can increase the prices.

Also don't forget that oil is usually bought in a "futures" market, say, 2 months in advance, at the "expected" future price, not the "spot" price at the time.

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grandad
 Post subject: Re: Oil going down
PostPosted: Tue Oct 07, 2008 6:59 pm 
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jason cole wrote:
skippy41 wrote:
As the price of oil falls why are we still paying £1.20 for diesel at the pumps???????????????????

http://www.oil-price.net/

Because you don't buy crude oil at the pumps, you buy refined products. Shortages in refinery capacity (e.g. maintenance) can increase the prices.

Also don't forget that oil is usually bought in a "futures" market, say, 2 months in advance, at the "expected" future price, not the "spot" price at the time.


So why did the pump price go up so quick? :roll:

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Tulsablue
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PostPosted: Tue Oct 07, 2008 9:07 pm 
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because they are all a set of spivs :roll:

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Sussex
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PostPosted: Tue Oct 07, 2008 10:11 pm 
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Tulsablue wrote:
because they are all a set of spivs :roll:

FFS don't mention spivs. :roll: :roll:

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Skull
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PostPosted: Wed Oct 08, 2008 12:59 am 
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With the Global Economy grinding to a halt, I wouldn't be too surprised if the demand for oil falls even further.

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gusmac
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PostPosted: Wed Oct 08, 2008 2:09 am 
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Skull wrote:
With the Global Economy grinding to a halt, I wouldn't be too surprised if the demand for oil falls even further.


All energy prices - oil, gas, electricity etc - should fall as the recession deepens.

No demand = low prices.

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jason cole
 Post subject: Re: Oil going down
PostPosted: Wed Oct 08, 2008 3:15 am 
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grandad wrote:
So why did the pump price go up so quick? :roll:

Because the futures prices don't change in quite the same way as the spot prices. Rising spot prices are likely to trigger similar increases in futures prices. However the futures prices may not necessarily follow falling spot prices, unless the downward trend continues for some time.

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grandad
 Post subject: Re: Oil going down
PostPosted: Wed Oct 08, 2008 6:08 am 
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jason cole wrote:
grandad wrote:
So why did the pump price go up so quick? :roll:

Because the futures prices don't change in quite the same way as the spot prices. Rising spot prices are likely to trigger similar increases in futures prices. However the futures prices may not necessarily follow falling spot prices, unless the downward trend continues for some time.


Sounds like bull sh*t to me. Just accept that they are robbing b'stards and no excuses.

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