Petrol Price

property.advert

When putting it up they always blame oil prices but you never hear them when oil prices fall and they fail to pass on the savings.

king100

Remember that pil prices account for what 30% the total price of fuel, so if oil price drop by 12% they actually will drop by 3 % or 4 %.

Then you have to take the contract that petrol stations are on weekly lagged platts deal will still be charged from their suppliers last weeks prices, plus what they have co mingled in their tanks and it gets slightly more complicated that just OIL PRICES WENT DOWN.

davidjwest

king100 wrote: »

Remember that pil prices account for what 30% the total price of fuel, so if oil price drop by 12% they actually will drop by 3 % or 4 %.

Actually as the duty is put on the price of the fuel then a 10% drop in oil prices, should be reflected in the price you see at the pumps, also a 10% drop. But it's not as simple as that for many reasons, greed being one of them.

Exchange rate variance also muddies the waters somewhat and then you've got cartels and pretend price wars etc.

property.advert

king100 wrote: »

Remember that pil prices account for what 30% the total price of fuel, so if oil price drop by 12% they actually will drop by 3 % or 4 %.

Then you have to take the contract that petrol stations are on weekly lagged platts deal will still be charged from their suppliers last weeks prices, plus what they have co mingled in their tanks and it gets slightly more complicated that just OIL PRICES WENT DOWN.

But if the government raises duty, they raise prices immediately, as do many sellers of cigarettes, even though their stock was purchased at the lower tariff levels.

I'll wager a pound to a penny that if you analysed oil price rises versus petrol prices you would see a much higher degree of correlation on the way up than the way down !