Dropped $10 a barrel to "only" $132. I wonder if it will continue downwards or if we have a harsh Winter severely upwards. If it continues downwards I wonder how long it will be before our leaders start saying "Due to the falling price of oil taxes will have to...." you know the rest.
I am astonished that when the oil price rises, garages put up petrol immediately, virtually as the price rise is announced but when it falls there seems to be some reluctance to lower the price. Must be the cynic in me.
If the prices dropped by 50% tomorrow it would be weeks before the petrol companies dropped theirs and even then it wouldn't be in line with what it should be. They are always quick to put it up but slow to reduce it.
And the Supermarkets are all Rackateering now. Remember when their fuel was 2p or 3p a litre cheaper than other Petrol Stations. Well, it seems around here those days are gone. The supermarkets are charging the same as everyone else.
Still, looking on the bright side, and a BIG thank you to the Labour government for postponing the planned 2p fuel duty rise once again - that's the 5th time in seven years they've done that (for those with short memories). Oh, and that was after they abolished the previous Tory government's fuel tax escalator ... remember that - inflation PLUS 5% fuel tax increase each year ... and they're promising to re-introduce it once they get back in!