Brent crude edged above $120 a barrel to $120.08, a two-and-a-half-year high.

rockitup

Really2 wrote: »

My 77L tank makes me cry and service stations wonder where the lorry is I must have filled up.:D

Know the feeling..... The diesel tank on my GMC Suburban has a quoted capacity of 159 Litres, but luckily enough the price per litre here is only 67p in equivalent money.

The pump attendants (yep, still got them here in Jurassic Park, Philippines) keep checking under the motor to see if the tank is leaking, Lol

mbga9pgf

wintersunshine wrote: »

Is that true? Never heard that before? Link?

http://conversation.which.co.uk/transport-travel/fuel-costs-are-same-as-in-80s/

lemonjelly

At one point yesterday it actually slipped below the $100 a barrel.
Now, given this, and the improved exchange rate, why haven't petrol stations reduced their prices?

Really2

lemonjelly wrote: »

At one point yesterday it actually slipped below the $100 a barrel.
Now, given this, and the improved exchange rate, why haven't petrol stations reduced their prices?

Presumably it wont feed through until the purchased crude is refined.

The best bit as been the BBC news website.

Today the headline has read.

"Commodities Rebound"

"Commodities Slide again"

Now
"Commodities' volatility continues" (Or We are refusing to change the headline again)

rockitup

lemonjelly wrote: »

At one point yesterday it actually slipped below the $100 a barrel.
Now, given this, and the improved exchange rate, why haven't petrol stations reduced their prices?

That was the Nymex Oil I think you will find, it even went as low as $94.66 a barrel in todays trading but has rebounded to just under $98 now. The Brent Crude is sitting at around $109.20

The petrol stations in the UK raise prices so soon after Oil rises but they use the old excuse that they are buying on the futures market when it is time to reduce them. Bunch of scammers....:mad:

lemonjelly

Really2 wrote: »

Presumably it wont feed through until the purchased crude is refined.

That is not what they say when they increase prices today - as eloquently put by a fellow poster above.

Seems they want their cake & to eat it. (Though I accept there is little other point in cake, other than having it and eating it...must find some better analogies...)

Graham_Devon

rockitup wrote: »

That was the Nymex Oil I think you will find, it even went as low as $94.66 a barrel in todays trading but has rebounded to just under $98 now. The Brent Crude is sitting at around $109.20

The petrol stations in the UK raise prices so soon after Oil rises but they use the old excuse that they are buying on the futures market when it is time to reduce them. Bunch of scammers....:mad:

Much the same as the domestic fuel companies.