Oil price falling, but is the price of petrol?

whowants2brich

Yay, looks like I tempted fate:

http://www.thisismoney.co.uk/news/article.html?in_article_id=447769&in_page_id=2&ct=5

Bring on the petrol price falls...

scbk

Just to update, got diesel at 124.9 in Hamilton the other day but noticed it's more expensive in England, average was about 132

whowants2brich

scbk wrote: »

Just to update, got diesel at 124.9 in Hamilton the other day but noticed it's more expensive in England, average was about 132

Thanks for pointing out that prices are cheaper in Scotland - but hey, I think it's a bit far for some people to drive, even if it is to get cheaper petrol...
Still, 7p per litre is a big difference (£3 on a 45-litre fill), but if it's more than a 10 mile return drive to get the petrol, any savings are probably wiped out...

colin79666

The supermarkets round here (near Edinburgh) have dropped 4-5p in the last week but the main forecourts (Esso, BP, Shell) only seem to have dropped 1 or 2p leaving the supermarkets being significantly cheaper.

whowants2brich

FWIW, I saw that a petrol station near us (High Wycombe) is selling petrol at 112.9 - I wonder if anywhere is cheaper than that at the moment? I'd be impressed if anywhere is...?

piggeh

Local Shell has dropped diesel to 127.9 - I almost fainted!

colin79666

whowants2brich wrote: »

FWIW, I saw that a petrol station near us (High Wycombe) is selling petrol at 112.9 - I wonder if anywhere is cheaper than that at the moment? I'd be impressed if anywhere is...?

Morrisons in Edinburgh at 111.9

oldagetraveller

Yes, seen a slight reduction in Petrol and Diesel locally. I wonder how much by and if the prices will fall further to correspond to a fall in oil price, if that happens.
Remember, the perception of the oil comanies will be we are now used to the higher prices so big reductions on the forecourt might not be so common.
What's the betting that if prices fall even more GB/Darling will sneak through the 2p/litre increase?

AdrianHi

oldagetraveller wrote: »

What's the betting that if prices fall even more GB/Darling will sneak through the 2p/litre increase?

The word "inevitable" springs to mind :rolleyes:

Only dropped to 130.9 for diesel round my way, from a height of 135.9

Oil has dropped to $123 a barrel today from a high of about $147

whowants2brich

Since the initial post, the price of oil has fallen from $147 to $135 and now to under $120 a barrel... nearly 20% decrease in the cost of oil.

I read somewhere, I think, that for every $2 change in oil price, in theory, the price of petrol should change by 1p. Therefore for a $25 decrease, prices should have fallen by 12-13p, but it seems that they've only fallen by around 5/6/7p depending on how lucky you are.

I wonder if it's it down to below £1.10 anywhere?