Apathy to petrol prices

Rallydriver

If, by delaying a number of tankers from the normal stream of deliveries the domestic price of oil products can be forced up, by delivering those tankers eventually in addition to the normal amount it must follow that there will be downward pressure on the oil price? All other things being equal.

DaveMacD

That would be the case, but if (for arguments sake) one company has half of those tankers, they could decide to cash in their chips, and put into port. They get an instant profit on several thousand million litres of oil, and they don't give a toss about where the price goes, since they've made their profit. The other tankers then stay out even longer to recoup their losses. To get the price to fall at the pump would need either all of them to dock, or OPEC would need to massively bump up production.

OoOGazOoO

Petrol prices are ridiculous, they are ok for the people who have a lot of disposable income, but for those who have responsibilities and live in the country, then public transport is out of the question, so a car IS needed.

People just seem to want to bend over and take anything the government throws at them in this country, and it is shown though petrol prices even though there are record highs of oil being held in store at the moment.

Gerrard_8_lfc

I dont mean to sound silly but why have speculators they never "see" anything good. who pays for them ?

Does this market not have a regulator or are they just like OFGEM all bark no bite.

If only we could do without fuel and let them have there oil. but I dont fancy walking 18 miles to my work.