lowest oil prices for 12 months!! why still the increase?

Cardew

logie28 wrote: »

I did not start this thread for a lynch mob mentality to take hold , i also dont think this has happened. People always get mad when the are not getting a fair deal!!

The reason i started it was because I'm sick of the energy companies jumping to the gun and announcing or threatening price increases as soon as market prices rise. Which is what has happened over the last 12-18 months. People mention price of £ falling to the $. When it was $2
to the £ at the height of the peak surely this would of taken a hit off the high prices at the time, apparently not!!

What i would like to see in these times of gloom and doom is, these companies at least offering hope of affordable energy at a fair market price, at the first opportunity.

Surely the consistent fall in the prices should offer enough confidence to at least predict a possible decrease.

I did say on this Forum.

There are loads of threads that are full of just plain irrational ranting

Whilst I would agree with your wish that the companies would hold out some hope of reductions in prices, such utterances are often used as a stick to beat them over the head.

In another field I learnt very quickly that the statement " There is a possibility in the future that

---

could happen) would be later thrown back at me as "you promised/made a firm committment that

---

would happen"

moonrakerz

Cardew wrote: »

There are loads of threads that are full of just plain irrational ranting

I think I said that about 300 posts ago in this very thread !!!!!!!!!!!!

Mazio_2

Cardew
I also agree with much of your posts and have to admit you are allot more knowledgeable (and helpful to people) about this sector but don’t you think the systems in place now are not working or seen to be working correctly and need to be changed and to be fair the utility companies will not be capable or willing to implement anything that would show up any deficiencies in the way they run their companies or impact their bottom line or have to work harder.

Also the vast majority of people they catch out (and I think this term is correct) with all the tariff changes are mostly the vulnerable / those not looking into it like us daily and the social tariffs I feel are just a token to keep the government quiet.

Surely there can be some sort of guide to the amount they can increase and decrease their prices that people can understand and is acceptable to both utility companies and consumer.

The big problem I have is this
Keeping your house warm and being able to cook and have hot water is not a luxury its a basic human necessity and cannot be compared to high street shops. I also understand some people waste this and should be more aware of the amount they squander but I really believe this to be the minority and the majority are paying.

Also bear in mind if we have a mild winter their profits are lower and also as more efficient systems go in and ( mostly those who can afford it) are fitted then the amount we use should decline which again means to keep their profits they will have to increase prices over and above inflation.

Cardew

Mazio,
I would go further than you and say the tariff structures in the Utility companies are a disgrace - confusion marketing at its worst.

We also should not be put in a position for essential services where we have to gamble on a fixed/capped tariff or not. Nobody, but nobody, knows the odds on that gamble.

BG's example of not informing people on the Click 5 tariff that Click 6 is cheaper is much like the banks who allowed people to keep their life savings in closed accounts earning 0.1% interest.

The problem is that really the margin for all the Utility companies is pretty small and they try all sorts of tricks to make their tariff seem more competitive.

Forcing the companies to adopt 'social tariffs' is simply an abdication of responsibility by the Government. This is simply achieved by the companies cross-subsidising their tariffs - robbing Peter to pay Paul.

If it cost more to administer pre-pay accounts, then that should be reflected in the price customers pay. If this causes hardship, then the Government should provide a subsidy, not other customers.

My objection the the way this forum has developed is that, as I said above, it is full of irrational ranting.

The reason why our prices are high is because world energy prices are high, and not because of huge profits made by the energy companies.

Roch_2

Ive never popsted on here before,but having just asked my oil supplier for a price thinking stupidly that because petrol has plunged in price, oil wouild have followed......I was astonished to hear that it is 41p per ltr per 1000ltr which is ridiculous. I was told it had just gone up 2p. They also said that they were being restricted at the terminal and instead of 10 lorries per day they were only being allowed 2!!! So the likes of BP (Big Profit) are not only racking it in at our expense but also restricting amounts so that it appears scarce. You also have to think therefore that they are building up cheap stocks for themselves to release at vast profit if the price for crude rises again.
The government needs to step in. If we can not stay warm in our houses this winter, there will be trouble

1carminestocky

Roch wrote: »

Ive never popsted on here before,but having just asked my oil supplier for a price thinking stupidly that because petrol has plunged in price, oil wouild have followed......I was astonished to hear that it is 41p per ltr per 1000ltr which is ridiculous. I was told it had just gone up 2p. They also said that they were being restricted at the terminal and instead of 10 lorries per day they were only being allowed 2!!! So the likes of BP (Big Profit) are not only racking it in at our expense but also restricting amounts so that it appears scarce. You also have to think therefore that they are building up cheap stocks for themselves to release at vast profit if the price for crude rises again.
The government needs to step in. If we can not stay warm in our houses this winter, there will be trouble

Be prepared to be accused of 'irrational ranting' by the usual suspects on here. Your only chance of getting out of here alive is the fact that you are slagging off the oil companies and not specifically the domestic energy companies. I don't think many people work for the oil companies on this particular form :rolleyes: Good luck.

Cardew

Roch wrote: »

Ive never popsted on here before,but having just asked my oil supplier for a price thinking stupidly that because petrol has plunged in price, oil wouild have followed......I was astonished to hear that it is 41p per ltr per 1000ltr which is ridiculous. I was told it had just gone up 2p. They also said that they were being restricted at the terminal and instead of 10 lorries per day they were only being allowed 2!!! So the likes of BP (Big Profit) are not only racking it in at our expense but also restricting amounts so that it appears scarce. You also have to think therefore that they are building up cheap stocks for themselves to release at vast profit if the price for crude rises again.
The government needs to step in. If we can not stay warm in our houses this winter, there will be trouble

Welcome to the forum.

The subject of CH oil costs in view if oil prices dropping recently is discussed at length in this thread:

http://forums.moneysavingexpert.com/showthread.html?t=1162163

You may find this a more appropriate forum to discuss your points.

Reading the posts there it would appear that oil prices have dropped from over 70p a litre earlier this year to under 40p.

I have no idea if 40p is justified or not, but at least the trend is healthy.