OPEC raise price of Oil ... have fuel prices increased yet?

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lazer-zxr
lazer-zxr Posts: 446 Forumite
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in Motoring
Typical, both cars have empty tanks at the moment, and I'm reading OPEC are raising the price of oil.
Has anyone noticed a price increase yet? How long does it usually take to filter through?

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  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
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    Bit quick, even for the oil companies
  • forgotmyname
    forgotmyname Posts: 32,554 Forumite
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    Their crystal ball saw this coming and prices have already increased, (a while back).
    Censorship Reigns Supreme in Troll City...

  • 20aday
    20aday Posts: 2,610 Forumite
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    Locally my petrol stations dropped their fuel prices when the £ vs. $ got slightly stronger and the price of Brent Crude dropped a few $.

    I think this time next week we will see the higher prices at the pumps.

    OPEC are cutting production (that's the reason we saw prices sub £1 earlier on in the year).

    Of course higher prices means less demand worldwide... and hopefully it won't be too long before prices fall again.
    It's not your credit score that counts, it's your credit history. Any replies are my own personal opinion and not a representation of my employer.
  • iolanthe07
    iolanthe07 Posts: 5,493 Forumite
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    Any cut back of production from OPEC will quickly and easily be made up from US shale. There is masses of oil swirling around the world markets.
    I used to think that good grammar is important, but now I know that good wine is importanter.
  • facade
    facade Posts: 7,031 Forumite
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    Fill up today, the increase is usually made on a Friday afternoon, to catch people filling up at the end of the week.
    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 ;))
  • forgotmyname
    forgotmyname Posts: 32,554 Forumite
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    Everytime i see threads on fuel prices that image of the old guy filling up additional fuel cans at the petrol station springs to mind. A few cans not just one or two.
    I thought he mush have a large garden of a fleet of petro mowers etc.

    Then it clicked it was budget day. He must have been kicking himself when they dropped 2p off the price of petrol.
    Censorship Reigns Supreme in Troll City...

  • pogofish
    pogofish Posts: 10,852 Forumite
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    I don't think that fuel prices fell in anything like proportion to the crude price to begin with?
  • globalds
    globalds Posts: 9,431 Forumite
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    This is more rhetoric

    More oil is hitting the market than demand ..These reductions (a) will more than likely not happen and ( b) as has been posted previously ..Will be produced by none OPEC nations.

    If the Price of fuel goes up ..It will be either that the pound has fallen or tax has increased
  • iolanthe07
    iolanthe07 Posts: 5,493 Forumite
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    pogofish wrote: »
    I don't think that fuel prices fell in anything like proportion to the crude price to begin with?

    No - that is because a huge portion of the pump price is excise duty and VAT.
    I used to think that good grammar is important, but now I know that good wine is importanter.
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