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Price of a barrel of oil down to a 6 month low.
Comments
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Sterling is down by about 7% over the last month. I'm not sure what proportion of the cost of a litre of petrol is oil but that part has gone up by 7%. Shipping costs will be denominated in US$ as well.
Plus once a new retail price has been reached the retailer will do all they can to keep it there and absorb any reduction of oil prices into their margin. One has to hope the market is as competitive as we are told.0 -
Graham_Devon wrote: »No, I would be down about 56% today Mr Idotrysohard.
I've reached the point with a number of my shares where their value is now so low that I can't be arsed to sell and am willing to leave them invested as a punt/ gamble.
It sounds as if some of your shares were purchased as a gamble rather than an investment. Why not leave them invested? Are you going to do something special with the cash?0 -
I've reached the point with a number of my shares where their value is now so low that I can't be arsed to sell and am willing to leave them invested as a punt/ gamble.
It sounds as if some of your shares were purchased as a gamble rather than an investment. Why not leave them invested? Are you going to do something special with the cash?
I've left 2 invested.
But one needed oil to be around $100 a barrel to be feasable. Not really allowed to mention this on the share forums as they go crazy at you and suggest you buy more. Also looks to be a rather lagre diultion coming up, to raise funds due to the oil price.
Saw oil reducing to under $100 a barrel, which did happen today, for a while. Meanwhile, the background for funding isn't great. So bailed, thinking 50% is better than 25%. It would have had to more than double to get back to where I was...which I don't see happening if countries start defaulting and this company needs loans and lots of them.
Mine was always a gamble. Was the AIM market. Not a market I'd ever invest in properly. Its hideously corrupt.0 -
Does anyone know why the spread is now so large between Brent Crude and West Texas Intermediate ?
There used to be very little difference - now the difference is huge (the grades of fuel are similar).US housing: it's not a bubble - Moneyweek Dec 12, 20050 -
Sterling is down by about 7% over the last month. I'm not sure what proportion of the cost of a litre of petrol is oil but that part has gone up by 7%. Shipping costs will be denominated in US$ as well.
Plus once a new retail price has been reached the retailer will do all they can to keep it there and absorb any reduction of oil prices into their margin. One has to hope the market is as competitive as we are told.
Truth is though that it's not the fault of the garages that the price of petrol is high. It's supply and demand. How many people reduce consumption when the prices increase? Pretty much none. So when a supplier is in a situation like that they'd be mad to reduce their prices if none of their competitors are.
Likewise, even if you try and undercut your competitors, you know they'll just cut prices right after so its lose lose.
Can't blame the suppliers for high prices resulting from a free market, the price is a result of demand.Faith, hope, charity, these three; but the greatest of these is charity.0 -
Graham_Devon wrote: »Not sure this is the key for a recession, it's just falling alongside asolutely everything else.
What I want to know, is why diesel is still priced the same as it was when Oil was 115+ a barrel.
There just is'nt enough diesel capacity in the UK,most refineries need investment in this area,its easier to import it,along with jet fuel.
The UK refineries were all geared towards north sea crudes,and produce far more petrol,as was the demand 10+yrs ago.Hence petrol will always be cheaper.Official MR B fan club,dont go............................0 -
why reduce the price of petrol when people will still buy it regardless... if you need transport you use the car, how many people lay off the right foot, to make it use less fuel... not that many. So until people reduce consumption considerably, then nothing will change.
Funnily enough, article today....drivers cut petrol use by 15%...
http://www.bbc.co.uk/news/business-151763300
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