MSE News: Weaker pound puts brakes on falling petrol prices

A stronger dollar and a pound 'weakened by the Scottish referendum' have halted falling petrol prices, says the AA ...
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Weaker pound puts brakes on falling petrol prices

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  • Quentin
    Quentin Posts: 40,405 Forumite
    Strange.


    In fact pound strengthens as Scotland rejects independence:


    https://bdaily.co.uk/environment/19-09-2014/pound-strengthens-as-scotland-rejects-independence/
  • A._Badger
    A._Badger Posts: 5,846
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    These pump-priming posts from the MSE team are a bit silly, really.
  • strange? the pound seems to have bounced back? but will the pump prices?
  • facade
    facade Posts: 6,902
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    No, pound goes down = petrol prices go up, pound goes up = petrol prices go up.

    Somewhat like "Dry Summer, crops all failed, prices go up: Wet summer, crops all failed, prices go up" :D
    I want to go back to The Olden Days, when every single thing that I can think of was better.....

    (except air quality and Medical Science ;))
  • Quentin wrote: »
    Strange.


    In fact pound strengthens as Scotland rejects independence:


    https://bdaily.co.uk/environment/19-09-2014/pound-strengthens-as-scotland-rejects-independence/

    It fell back again by the end of the day ;)

    GBP20140919.jpg
    Over the past couple of weeks the pound had fallen on fears that Scotland would vote in favour of independence. As it became clear overnight that Scotland would vote against leaving the union, the pound spiked to a two-year high against at the euro and two-week high against the US dollar.

    However, as trading in London got underway the rally faded and the pound dipped. At the end of the trading day it was down 0.48% against the dollar at 1.6322.
    http://www.bbc.co.uk/news/business-29268196
  • redux
    redux Posts: 22,976
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    edited 24 September 2014 at 9:37AM
    I'm with the people who don't understand this prediction.

    It seems to me that the pound against the euro has been a better indicator of likely retail prices, perhaps as some of our car fuel especially diesel is imported from European refineries

    Based on closing exchange rates at the end of the working day, the pound has risen against the euro for several days in a row, and it isn't easy to spot any trend that might have prompted this article a few days ago.

    Also retail prices have dropped recently in some European countries.

    Diesel is now equivalent to 92 pence a litre in Luxembourg, and 99 or 100 pence in some places in France and Belgium.

    These best price differences between UK and Europe for diesel used to be about 15 to 18 pence a litre, or 20 to 25p for Luxembourg.

    The differences seem to be increasing all the time. Now the best price differences are 30 to 40 pence a litre, and it's possible to see nearly 60 pence a litre between diesel on UK and Luxembourg motorways.

    Yes we have higher duty, but other countries have gradually increased duty as well.
  • colino
    colino Posts: 5,059
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    Basic rule for energy companies worldwide is charge as much as the market will sustain. UK had a feeble attempt at rolling road-blocks and petitions, but we are addicted to the stuff. They made it easier to stomach for a while changing the pricing to litres (why not Kms on the roadsigns too?), but we keep on lapping it up.
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