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Price at pump ratio to oil prices?
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silvertooth
Posts: 240 Forumite
in Motoring
Oil is falling in price like a rock
they are talking about oil going down under $20
why is the price at the pump not falling to the same degree?
i know there is a bit of a lag but it’s been long enough now
they are talking about oil going down under $20
why is the price at the pump not falling to the same degree?
i know there is a bit of a lag but it’s been long enough now
0
Comments
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Quick to go up and extremely slow to come down, it has always been the case. The same applies to home energy as well when the wholesale prices of gas and electricity rise and fall.
1 -
Don't forget that you aren't getting crude oil out of the pump.
£1.20 at pump
less 20% VAT = £1
less 58p fuel duty = 42p
less retailer's margin, distribution costs, refining costs, marketing costs, other operating costs = the bit that's subject to crude oil price variation...
As for "but it's been long enough now..."
Currently - $36.50 for Brent Crude.
Last week - Friday - $45.27, Thursday - $50, Monday - $51.90.
Last month - Feb 20 - $58.80
https://oilprice.com/oil-price-charts/46
3 -
Look on the bright side - it’s still much cheaper per pint than beer in a pub !!1
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Our local (in Newark) is now charging £6 a pint. It's Newark not London!!!ToxicWomble said:Look on the bright side - it’s still much cheaper per pint than beer in a pub !!'Just because its on the internet don't believe it 100%'. Abraham Lincoln.
I have opinions, you have opinions. All of our opinions are valid whether they are based on fact or feeling. Respect other peoples opinions, stop forcing your opinions on other people and the world will be a happier place.0 -
That wouldn't be my local for very long.Exemplar said:
Our local (in Newark) is now charging £6 a pint. It's Newark not London!!!ToxicWomble said:Look on the bright side - it’s still much cheaper per pint than beer in a pub !!0 -
Well the prices seem to be coming down here, it was £1.167 at Asda last Friday, pity my tank was mostly full.
I'd rather be an Optimist and be proved wrong than a Pessimist and be proved right.0 -
Something is wrong when the price of a barrel of oil is cheaper than a full tank of fuel in a normal car
that is one hell of a mark up0 -
No, it's a hell of a lot of tax.silvertooth said:Something is wrong when the price of a barrel of oil is cheaper than a full tank of fuel in a normal car
that is one hell of a mark up1 -
So pour crude oil into your tank, then. See how far it gets you.silvertooth said:Something is wrong when the price of a barrel of oil is cheaper than a full tank of fuel in a normal car1
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