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Oil Price Falls Again

Unleaded95 · 2009-07-07 01:53:24

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.

Comments

Money_Grabber13579 Posts: 4,487 Forumite

15 July 2009 at 11:22PM

Ok, here's a rough guide.

Oil currently at $60 and petrol is 105.9p (Where I live)
Last time it was 105.9p, oil was $140
Exchange more or less the same. (Slightly worse now than it was but only enough to account for about 10p rise.

So oil has more than halved, exchange rate weakened slightly, and petrol stays the same. It's pure profiteering by the government and oil companies. Government wants prices to stay high since that equals more taxes.

Northern Ireland club member No 382 :j
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