with crude moving back up in price towards the $50 a barrel and the dollar against the pound down near $1.30 it looks like prices could start hiking, at its low the barrel of $35 the pound was sitting at around $1.50 but at its high of $150 a barrel the pound was sitting at nearly $2. looks like by start of summer we be back to those £1+ per litre, so enjoy the cheap fuel now!!

Oh hell not again :thumbdwn:

It's already gone up four times in the last two weeks here in NZ

The papers are all "Doom, gloom, panic buy!"

Oh well, no point moaning about it as it's out of our hands.

I've seen local prices start creeping up here in Suffolk over the past week - diesel is now 99.9 ppl.

Up to 85p in a lot of garages round here

there is a 5p difference between tesco and sainsburys around here, but it doesnt help when newspapers use their power to print scaremongery, waiting for the next "petrol strike" headline to cause panic buying or the "petrol to go above £1 in days" headline. However when the barrel of crude kept dropping they were helpful i suppose in getting the garages to drop their prices

....it doesnt help when newspapers use their power to print scaremongery, waiting for the next "petrol strike" headline to cause panic buying or the "petrol to go above £1 in days" headline

So are doom and gloom threads on internet forums any better?

So are doom and gloom threads on internet forums any better?

Ill get the sandwich boards ready

I see it this way.

The pound is currently terrible against the dollar. In my view it can hardly get much worse; and we're bound to see the pound gaining strength against the dollar some time soon. In which case hopefully the pound will rise up against the dollar at the same rate that the oil price rises. I'll be happy for as long as the "litres" indicator on the fuel pump moves faster than the "£" indicator.

Glass half full, people

So are doom and gloom threads on internet forums any better?

Pfft ,they’re all amateurs. No article is credible for doom and gloom without a reference to the ferfal blog and 'the' list

I see it this way.

The pound is currently terrible against the dollar. In my view it can hardly get much worse; and we're bound to see the pound gaining strength against the dollar some time soon.

I bet the Icelandic are still thinking this too about the Krona

I'll be happy for as long as the "litres" indicator on the fuel pump moves faster than the "£" indicator.

Glass half full, people

same here, rather depressing when the £'s move faster than the L's

Glass half full, people

Half full or half empty - its still your round

Ffs, will people cheer up. The world is not going to end just because petrol has gone up by 10p a litre. How expensive do you think it's going to be when the oil reserves are nearly out.

As Monty Python used to say: Always look on the bright side of life

as monty python used to say: Always look on the shyte side of life

Well those greedy OPEC people want to fill their own pockets by cutting production. Screw the world economy, so long as you can own 20 mansions and 100 sports cars

Edited 23 January, 200917 yr by anewman

Taken from the independant in 2007........

In recent years the once-considerable gap between demand and supply has narrowed. Last year that gap all but disappeared. The consequences of a shortfall would be immense. If consumption begins to exceed production by even the smallest amount, the price of oil could soar above $100 a barrel. A global recession would follow.

From World oil supplies are set to run out faster than expected, warn scientists - Science, News - The Independent

Steve

Ffs, will people cheer up. The world is not going to end just because petrol has gone up by 10p a litre. How expensive do you think it's going to be when the oil reserves are nearly out.

As Monty Python used to say: Always look on the bright side of life

they found a huge oil field between russia and the artic and from what the oil experts are saying some of these empty fields that we ahve already drilled dry are actually filling back up with the crude stuff quicker than they originally thought it would, so not all doom and gloom ;|)

2 weeks ago, it was above $50 per barrel. Sitting at $43.18 just now

BBC NEWS | Business | Market Data | Commodities | Brent Crude Oil

but brent crude (which was the cheaper out of the two) has actually become higher in price while the main crude has dropped, i think brent is about 5-10 dollars more at the moment (guessing without looking at todays prices).

Just after the new year, oil peaked at way over $50 a barrel, then fell back to $38 again, same just before christmas. The current blip is less than both those times. Brent is now $48, and US crude $46. Prices here seem fairly static still with little movement over the last few weeks. The start of the Obama presidency could be why the dollar is strong now, but if the US recession deapens then that could all change, same with euroland and the euro with their deapening recession.

Looking at this graph on the bbc website.

http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/commodities/28696/three_month.stm

The oil price now seems to have settled between 40-50 USD with the current trend on the downward side.

I thought cartels were illegal?

After all air cargo cartels and evry firm involved investigated and fined. Same with drug firms. Oil companies, can do what they like.

I thought cartels were illegal?

After all air cargo cartels and evry firm involved investigated and fined. Same with drug firms. Oil companies, can do what they like.

Hands in pocket with Governments as well. Why else has the development of alternative environmentally friendly fuels been so slow? And why when there is any Government involvement with alternative fuels are names like Shell and BP keep popping up?!

well while all the supermarkets went up to 86.9p for unleaded the local shell (that i dont stop at anymore) went up a massive 5p to 91.9p and its diesel is now over the £1 mark again at 101.9p

Never saw derv drop below £1 myself. Lowest I paid on the works car was £1.03