i missed the discussion on chris evans radio show this evening on it. but found that the government duty on fuel is around 50p. with crude staying around the same sort of price barrier (and under the 1 ton mark) im looking and hoping that in 4-6 weeks time the fuel will be 90p ish a litre. also notice the pound against the dollar is looking good so hopefully the reductions will be very good.

It's like this. It has been proved that no matter what fuel costs we will still buy it, so why would they drop the price???

Captive market. They won't do it unless they are forced and even then any reduction will be as little as possible. They are out to make money after all.

Windfall tax?

well im sure oneof the supermarkets will prove how low it can go soon when the next round of we are cheaper kicks off

5p off at Tesco again ATM...

5p off at Tesco again ATM...

and they know they can knock 5p off at any time, how about they knock 5p off and then do their 5p off when you spend 50 quid and put their money where their mouth is

Reading various sites today. The AA on another story was saying petrol should now be £1 a litre at least if not less. bp were claiming they have just knocked off 5p a litre but i think its gonna take an asda v tesco price war to get the prices down again.

the fuel will be 90p ish a litre.

Can I have some of what you're drinking please?

They will never drop it that low again, they know that if they drop it below a £1 they will then have problems getting it above a £1 in the future!

I am just hoping they make diesel and petrol to the 4p a litre difference as it was about a year ago and not this 12-15p difference it is now

Derv should be a similar price to standard unleaded and certainly less than the V-Power.

I still think they are taking the p*ss and while prices should be below the £1 mark already, as we have noted the petrol stations will do all they can to keep it past that mark.

well im confident it can get below the £1 mark, i reckon it will be a major supermarket that does it (probably asda) so they can advertise they the cheapest for petrol and the only for under a £1 (99.9p probably) and then so they get some advertising in so you go spend money in store too.

The only way I'll drop to 2007 prices again will be a bad hard recession where no one can afford it, so they have to give it away.

The sort of financial chicanery we've seen this week is a very bad omen for oil. Sub $100 oil? Be careful what you wish for.

EDIT: I was drunk when I only posted that first line, having been out all night, catching up the morning, I find this: Oil posts biggest 3-day gain since 1998 - Yahoo! News UK

Here is what I expect to happen: The UK/European/US givernemnts interere in the free market. Their actions reduce confidence in the value of our currencies, promote the price inflation of resources and send speculators into areas away from stocks (esp. banks) and I expect oil to rise sharply again. Government policy is inflation at all costs.

As and when this government interference stops becuse its not working all hell will break loose and oil could go anywhere. Oil might eventually come back down to a low price of well under $100 but that will be at a high cost to everything else in our lives. As I said, be careful what you wish for...

Edited 20 September, 200817 yr by daiking

local sainsburys had gone up to 115.9 at start of week had dropped this morning to 110.9p winchester shell and sutton scotney both at 111.9p for unleaded.

Diesel down this morning in Livingston to 116.9p/litre and petrol was 104.9p.

It's a good start but I'm expecting diesel to go down further perhaps 113.9p in the next couple of weeks.

I'm driving down to Cornwall on Friday so hope it goes down before then.

my local shell has dropped 4p to 111.9p unleaded and 118.9p for vpower, have a feeling vpower didnt drop as much.

Filled up with Diesel at Asda in Great Yarmouth on Friday, was 118.9 then per litre and seemed to be the cheapest station in the area.

Shell diesel was still 123.9 a litre last night. ARGH!

Both Shell stations near Hull where 107.9 for petrol and 119.9 diesel when I went past yesterday. So considering they where 108.9 at the last price drop then crept up to 110.9 it's not really that much of a drop. :thumbdwn:

point them out to the local newspaper, if they are short of stories then maybe they could then spend an afternoon on this

Wasn't just Shell were the price crept up.. the supermarkets also did. :thumbdwn:

Make the most of it, oil's on it's way back up. $106

its because today was the last day of ordering next months oil and a rush started. it will go back down in the next day or so. just got to watch the dollar now as that is falling against the pound which isnt good news on fuel.

Dollar falling against the pound is great news for fuel prices since the stuff is purchased in USD and sold in GBP and processed over here.

Therefore weaker dollar means you can buy more oil for your pound which means less pounds per litre of petrol coming from the cost of oil.

The only reason a falling dollar was bad for oil prices was that speculators were buying oil and commodities instead of dollar bonds etc, so forcing prices up.

FWIW the prices are going up because people have questioned if the US can actually afford to bail out AIG and pay for it's bail out of the US banks to stabilise the markets. Since they have realised this the stock market has dropped and people have been selling shares and buying oil/gold, hence prices going back up again.

im just repeating what was said on the financial news tonight.

im just repeating what was said on the financial news tonight.

The oil reps started that one a while ago, and if you think about it logically saying the dollar being weak means that the UK doesn't benefit from low oil prices is nuts.

A weak dolalr will only affect US prices upwards and should if the pound is strong relative to it make oil cheaper. As such the oil prices have been a joke for the last year or so and the oil companies are loving the money rolling in.

but the dollar is up at 1.86 to the £. surely if say a pound is worth $2 you will get a barrel cheaper than if the pound was worth $1.50?

Reading the news today, people are speculating on oil due to the dollar being low giving poor returns etc. this is driving oil price back up.

Ken