So oil is on the way down - will fuel follow? Mmmmmm.....

Is there anywhere we can see the cost of fuel versus the cost per barrel to see when the rises happen and see if we should be demanding the cost to come down.

August next year - just in time for it to rise again.

Takes the p*ss

Drop at the pumps :rubchin:

I don't think so!!!!!

Just been reading on the news today that opec are cutting production too, this will keep prices at least at current levels.

Would be ok if the pound had kept up with the dollar.

it will take about 6 weeks to filter to pumps but hopefully it be a nice 99p price by then too but i see opec doesnt like it and has cut production by half a million barrels aday.

So price is 2/3rds of what it was and the £ to $ exchange rate is approximatly 0.8 of what it was.

So what does that mean... well we are still being put over a barrel and given it.

Amazing how it's an instant price increase and a long lag to any decrease. They will never put it back under £1 a litre because they have finally managed to get past that barrier now.

Time for a nice big fat windfall tax on them I think as they won't play the game and have shown their contempt.

Currently $103.62 per barrell

Crude Oil Price Forecast

Aspman is correct; the $/£ is now 1.76 which means we are paying more due to those fulcuations. Incredibly frsutrating.

So price is 2/3rds of what it was and the £ to $ exchange rate is approximatly 0.8 of what it was..

how much from your calculations do you reckon we should be paying? anyone got an email address for the daily mail and we get them to do a front page tomorrow

0.66 and 0.8 so:

for derv 130p at peak

130 * 0.66 = 85.8ppl

85.8ppl / 0.8 = £107.25 ppl for derv.

That would be another 17p per litre we are due off then. So when is that happening again?

I actually have noticed fuel prices drop by 3p a litre around here in the last two days . . .

Misery for drivers as 'greedy' Opec cuts production to keep prices ABOVE $100 a barrel | Mail Online

for an interesting story. says fuel can drop 2-4p a litre for each dollar a barrel drops by.

daily mail contact [email protected]

i know this might be a bit irrelevant to this thread, but what do they call a barrel?? surely bulk buyers dont buy loads of 'tin cans' full of oil?? i assume they are going by a 205 litre standard barrel right?? so how much of that barrel of crude actually ends up as usuable fuel after the fractioning process?? 15-20% maybe??

so i'm working with 20% of 205 litres which is appox 41 litres..

we know that the rest of the 'products' from fractioning are used to make other stuff like diesel, jet fuel, paint, plastics etc etc, so we are only interested in 20% of the price of a $105 barrel, 0.2 x 105 = $21

$21 / 41litres = $0.51 per litre.... $0.51 = roughly 30p per litre.....

add a bit for the cost of deliveries to petrol stations, where's the rest of the money go then??

158.9 litres or 42US gallons.

The 42 US gallon size of barrel as a unit of measure is largely confined to the American oil industry. It is not an actually barrel. about half is used for petrol, the other half is used for tar, diesel and other chemicals.

also found this :One Barrel of Crude Oil makes 19.5 gallons of Gasoline, which converts to 73.8 liters of petrol/gasoline.

I actually have noticed fuel prices drop by 3p a litre around here in the last two days . . .

Lucky you, they have gone up a penny or two down here :thumbdwn:

Price is still dropping round my way, and the news said this morning that pressure is growing on the oil companies to keep up with the drop.

Price is still dropping round my way, and the news said this morning that pressure is growing on the oil companies to keep up with the drop.

:orb_jacks

about time, once the media get behind it and keep publicising this and start naming and shaming garages who are refusing to lower prices then things will start moving. but no doubt it be the supermarkets that make the first step that forces the prices back down.

Up a penny round here.

I've noticed acouple of the cheaper stations have put their prices up a penny recently around here.. :(

The trouble around my way is that Tescos very much control the prices prevailing in the area. They almost have a monopoly on fuel here (most of the other forecourts have shut over the years unable to compete) and as they are currently doing their spend £50 get 5p/l off offer, they price accordingly. The result is the average price has crept up a few pence over the last few weeks - and it never really dropped much from the peak!

Currently $102.10!

However how many have read this: Opec cuts production to keep oil above $100 | Business | guardian.co.uk

However how many have read this: Opec cuts production to keep oil above $100 | Business | guardian.co.uk

I've seen quite a few articles similar to this recently. I just feel like Opec are essentially price fixing which i'm sure is illegal in other business sectors:mad:.

If the price of gas is linked to the price of oil, are the energy companies who have announced big price increases recently likely to decrease their prices now the cost of oil is decreasing??

You also get less Diesel out of a barel compared to petrol so I woulod think that's why there is such a price difference, lots of petrol, not so much Diesel.

I've seen quite a few articles similar to this recently. I just feel like Opec are essentially price fixing which i'm sure is illegal in other business sectors:mad:.

If the price of gas is linked to the price of oil, are the energy companies who have announced big price increases recently likely to decrease their prices now the cost of oil is decreasing??

Makes you wonder......

The only way the energy bills are going is UP!!

There should be a law that they have to abide by where if they increase the cost of the gas by 35% due to 'wholesale gas prices' as soon as the prices come down, they should be made to decrease by 35%.

If the price does come down in the future, british gas and the like have guaranteed that the can make a profit as they have put it up 35% but they 'aint ever going to bring it down 35% even if the bottom fell out the market, the most us poor sods would see would be say 10 - 15%.