there are several land sites in the uk where you can drill for oil (so i was reading a while back) how about a briskoda refinery and we just drill and make our own fuel

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?

Yes, but I think you're getting confused with the terminology.

If the dollar is down, that means it is weaker so you will get more $ for your £

If the dollar is up, that means it is stronger, so you will get less $ for you £.

Eg $1.50 -->£1 is up on $2.00 --> £1.

If you take it the way I'm saying it, I think you're getting at a similar point to me, that a weaker dollar will make the oil cheaper to a british buyer, buying in GBP.

Yes, but I think you're getting confused with the terminology.

If the dollar is down, that means it is weaker so you will get more $ for your £

If the dollar is up, that means it is stronger, so you will get less $ for you £.

Eg $1.50 -->£1 is up on $2.00 --> £1.

If you take it the way I'm saying it, I think you're getting at a similar point to me, that a weaker dollar will make the oil cheaper to a british buyer, buying in GBP.

Thats about it, you need to think the other way. If you live in the US and wanted to visit the UK as a tourist, a few months ago for every $2 you had you would have got £1, now at $1.85 to the £, your $2 will get you £1.07. The higher the exchange rate £>$ is then its more expensive to sell $ priced items in the UK, so to buy $2 instead of costing you £1 to get the same $2 today will cost you £1.07. For a barrel of oil at $100, instead of it costing £50, today it will cost you £53.

Edited 23 September, 200817 yr by mannyo

Aye, but the dollar was down at 1.70 something to the £ the other weak, so it's now further down against the pound at $1.80 something hence making the oil cheaper for a UK buyer.

Hi

Oil prices fell to an 8-month low below $90 a barrel today. At our pumps we are paying around 90 pence a lt for euro diesel now, and keeps falling ,when all else is in chaos, so is your diesel in the UK also going down ??

------------------------------------

Octy 2, 1.9 TDI PD Ambiente 4x4 Combi and Nissan Sunny 2.0 DLX, Company Octy 1.9 TDI Tour Combi.

Still 121.9 pence per litre here

105.9p for unleaded here, dropped 1p over weekend. Derv went down 2p to 117.9p.

Asda was 116.9p/litre yesterday in Wrexham. Hopefully Tesco will drop their prices to compete and prices will be forced lower this week. Still feel like I'm being ripped off though:mad:

I've noticed that at the peak there was a 13p difference between fuels.

They dropped back about 10p a litre to 125 for diesel and 115 for unleaded narrowing the gap to 10p

Now the cheapest fuel I can get is 105.9 for unleaded and 116.9 for diesel , but most garages are doing 107.9 and 120.9 which is back to a 13p gap.

As it's always the unleaded price that gets mentioned on the news I think they are trying to make a quick extra profit on the oily stuff by not dropping the price in line with unleaded.

We were at friends of ours on Sat. The hubby is an oil industry veteran and works as a consultant now. I was speaking to him and I said that the oil industry must be rolling in cash with the high price.

His take was that he'd worked in '98 when the price spiked. Oil companies put rush orders on equipment because there was a 2 year lead for delivery. When the price crashed all queued orders were cancelled within a week.

When the price went up to $150 the companies started ordering machinery and starting projects to get expensive oil (hard to get to stuff). Lots of these projects are getting mothballed right now and orders for machinery might be getting cancelled soon. He didn't think it'll go down to $12 like happened before but he thinks it's going to crash well down from $100.

Diesel still around £1.23 here - £1.20 in some areas. I wonder how long it will be until it gets back to being vaguely normal? :(

In the idependent this weekend they talked about the price of fuel plummeting over winter and into next year, so much that petrol will be back at 75p/l.. I wait to see it before i believe it myself.

In the idependent this weekend they talked about the price of fuel plummeting over winter and into next year, so much that petrol will be back at 75p/l.. I wait to see it before i believe it myself.

Yes , I think oil dropping back to $30 a barrel is incredibly unlikely

i reckon it get down to 50-75 dollars a barrel. i said in august when the price started to drop down to 120 a barrel that wait till mid october and we will see some nice drops by then which we have so far. as it takes 6 weeks to filter through the price per barrel now wont be seen now till middle of november. Also with the major companies like shell not commenting on fuel price drops it be interesting who will cause the price to drop sub £1 limit as its only asda and morrisson who are leading the way.

Today tesco dropped another 1p to 109.9p shell still the same at 111.9p sainsburys at iirc 107.9 and local jet at 109.9 all unleaded prices.

just had a look at what happened to oil today, its dropped nearly $7 and is just over $80 for a barrel. im even gonna guess now that petrol will fall to 90ppl in middle of november.

just had a look at what happened to oil today, its dropped nearly $7 and is just over $80 for a barrel. im even gonna guess now that petrol will fall to 90ppl in middle of november.

They won't let if go under £1 again if they can help it.

£1 a litre flat and an extra 5-10 p for the premium fuels is my guess.

They won't let if go under £1 again if they can help it..

Let's riot.

I think its going to stabilise around $90/barrel and that petrol will fall to about £1 a litre but not below...

[kevin keegan]I ****ing love it, they postponed the duty increase and they still lost the glasgow by-election. Now the price of oil is falling and they're losing tax revenue hand over fist and have to wait till April to put 2p on fuel.

2p fuel tax rise postponed | Politics | guardian.co.uk

I ****ing love it[/kevin keegan]

Let's riot.

We're British, not French.

We just bend over and take it and in the process pay for the French to get it cheaper :(

They won't let if go under £1 again if they can help it.

£1 a litre flat and an extra 5-10 p for the premium fuels is my guess.

the big garages no, but im sure a supermarket will be the first to crack it:thumbup: watch this space:D

There's a banking crisis going on, where do you think the European bosses are getting enough money to cover the debts?

There's a banking crisis going on, where do you think the European bosses are getting enough money to cover the debts?

Public coffers of course!

the big garages no, but im sure a supermarket will be the first to crack it:thumbup: watch this space:D

I bet the supermarkets will do it, opec also reduced output to stop the price of oil falling below $100 and look whats happened we are now at $90 and it looks like it will go lower.

Diesel is falling at the garages close to work, and is now sitting at 116.9.

opec are panicing now the oil is down around $85 a barrel, this fromt he ft.com site:

Opec members seek emergency meeting

By Carola Hoyos in London

Published: October 8 2008 17:48 | Last updated: October 8 2008 17:48

Almost half the members of the Opec oil cartel are considering an emergency meeting in Vienna next month as oil prices dropped to their lowest level in nearly a year.

Almost half the members of cartel have in the past few days called on the group to act to halt the slide before their next official meeting scheduled to take place in Algeria in late December