Oil on the slide

  Grey Goo 11:28 17 Jul 2008
Locked

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.

  Cymro. 11:39 17 Jul 2008

Oil prices are bound to drop a little from time to time but I think the overall trend will be upwards. I doubt if we will ever get back to the days of relatively cheep oil.

  last starfighter 12:02 17 Jul 2008

Grey Goo" DONT hold your breathe seem's it only takes a bank to show drop in profits or some goverment makes a statment about iraq/iran & it all goes mad, what a fragile society we all live in...

  GANDALF <|:-)> 12:06 17 Jul 2008

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.

G

  Bingalau 12:08 17 Jul 2008

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.

  last starfighter 12:41 17 Jul 2008

GANDALF"
GOODPOINT!!! its called "Racketeering"

  wids001 15:14 17 Jul 2008

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!

  Cymro. 16:14 17 Jul 2008

Good for you that is the trouble with too may people on this forum they have short memories. Some of them actually think that petrol would be cheaper if we had a Tory government.

  day2strike 16:18 17 Jul 2008

Oh come on now the petrol companies are running a business here not a charity, surely you dont expect when the cost of a barrel of oil comes down the consumer will see a reduction in the prices!

Only if the price falls steadily for a few weeks or months will the consumer see a reduction.

And very nice of the government not to put up fuel duty by 2p in the autumn.

  Forum Editor 16:29 17 Jul 2008

Kindly tell me why supermarkets are racketeering because they charge the same as everyone else.

  egapup 16:47 17 Jul 2008

When the Iraqi oil gets sorted and flowing the price should drop but then the government will stick its oar in and put the price back up.

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