Oil Price Falls Again

Unleaded95

Oil price has hit a 5-week low.

Funny though petrol was 6p/litre cheaper 5-weeks ago.

So !!!!!! is going on at the pumps.

High time the petro-industry speculators had lengthy prison terms to allow the worldwide economies to recover.

Hintza

Current price $64.25. Price on 29tht June $70.35.

Hopefully prices will reflect that shortly. What is the lead time in refining?

cyclonebri1

I'm sure I read there was about a five week lag crude to pump price

Antispam

Petrol at station I got to was 99.9p a litre now its 102.9

AdrianHi

cyclonebri1 wrote: »

I'm sure I read there was about a five week lag crude to pump price

8 week lag sticks in my mind but I don't remember for sure.

Amazing the drop considering we have had 10 oil tankers parked off the south coast for the last few months waiting for the price to rise.
http://www.dailymail.co.uk/news/article-1168326/Tankers-oil-anchored-Devon-coast-waiting-world-prices-rise.html
They are still there, my father-in-law lives in the area.

Hintza

Unleaded95 wrote: »

High time the petro-industry speculators had lengthy prison terms to allow the worldwide economies to recover.

It is the greedy people that take more than one punnet of strawberries from the shelves at this time of year are the real villains. Hang 'em high....:rolleyes:

Unleaded95

AdrianHi wrote: »

8 week lag sticks in my mind but I don't remember for sure.

Amazing the drop considering we have had 10 oil tankers parked off the south coast for the last few months waiting for the price to rise.
They are still there, my father-in-law lives in the area.

The Navy should clear them out of UK waters, or charge them £1million/day for parking. Or we should invite pirates to sort them out. If they aren't delivering they serve no purpose.

kernewek

Funny how there is no lag when the prices go up

Antispam

I have heard that recently too but I think it was in Wales coast

The media blame the parasite speculators again who did this last year too

They should be hung up by the balls

AdrianHi wrote: »

8 week lag sticks in my mind but I don't remember for sure.

Amazing the drop considering we have had 10 oil tankers parked off the south coast for the last few months waiting for the price to rise.
http://www.dailymail.co.uk/news/article-1168326/Tankers-oil-anchored-Devon-coast-waiting-world-prices-rise.html
They are still there, my father-in-law lives in the area.

Indeed I thought that too still waiting for dosmestic fuel prices to tumble from last years two price increases

kernewek wrote: »

Funny how there is no lag when the prices go up

Unleaded95

I wish the government would stop propping up the car companies with public money.
If they go bust it's because they produce utter rubbish!

Take for example the Vauxhall Corsa. The 3-cylinder 1.0-litre engine in a new 09-Reg model is the same as that found in a 98-model plus a variable intake manifold.
A slow 17s 0-60mph car that drinks fuel despite such slow performance.
The new 1.2 is barely faster and drinks even more fuel.
So 2 generations in a decade and all we have are cosmetic changes.

Car ranges like the VW Bluemotion and Ford Ecokinetic are nothing special with improved aerodynamics, long gear ratios etc.
Why are the cars not made like this in the 1st place?
The reason being greed.
These ranges are so overpriced the fuel saving never outweighs the higher purchase price until the vehicle has done 250,000 miles.

Cars will sell in good numbers once the car makers release good sized vehicles that get 100mpg and cost standard price. The technology is just being held back from the markets.
One thing is, these car companies are getting paid billions by oil sheiks etc for holding back fuel-saving technology by 5 years or more.

Unleaded95

Has anyone tried distilling petrol/diesel from raw crude? Works out about 19p/litre with the cost of equipment not taken into account.