Price of fuel

Discussion in 'Diamond Lil's' started by wet_blobby, Nov 8, 2007.

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  1. wet_blobby

    wet_blobby War Hero Moderator

    I have given this 5 hours thought down the pub and am still mulling it over with the aid of a couple of bottles of red........

    Crude oil is at a all time high of $98 per barrell

    The pound is at a 26 year high at $2.10 V the £

    Why are we paying more for petrol? the strenght of the pound actually makes petrol cheaper.

    Take the tax out....we dont pay tax at point of sale....
  2. Cos the Chinks and the Indians are buying up all the available oil they can and there isnt enough being produced to meet demand.thats why.
  3. wet_blobby

    wet_blobby War Hero Moderator

    Andy, the strength of the pound should mean we can buy it cheaper, fcuk demand we are in the box seat.
  4. Blobs, I am sure you are not looking for the sensible answer but I understand it is to do with some or all of the following:-

    1. the $ is falling through the floor, people therefore want to invest in oil, thus increased demand
    2. India and China's high demand for oil
    3. Increased tension between Turkey and Kurdish separatists in northern Iraq

    I am even considering using public transport!
  5. chieftiff

    chieftiff War Hero Moderator

    This has been puzzling me too Blobs, I watched an article on the news at ten last night and just felt confused, surely it's irrelevant why the dollar price of oil is rising when the exchange rate is getting so much stronger in our favour. I know why oil is rising: uncertainty in the middle east, China buying a lot more US trying to artificially inflate the price etc etc.

    Fact is all oil is bought and sold in Dollars (at the moment!) $98 is still £46,60 at the current exchange rate. Discussing this today a guy at work was telling me that when it was $86 the exchange rate was $1.88 or £45.74 a barrel. So oil has gone up in price. I'm sure Bergen could explain it more accurately but this worked for me.
  6. wet_blobby

    wet_blobby War Hero Moderator

    No Rosey, you have me all many wrens have heard that.....

    Why invest in the places you mention....let alone invest in oil.....fancy dinner?
  7. wet_blobby

    wet_blobby War Hero Moderator

    Chieffy, there's a crock of shite going on somewhere but we're all meant to be dumb and stupid about it.

  8. Blobs------the price of oil [at $98 a barrel] the exchange rate and the
    high £ to dollars doesn't matter . Price before the high £ was about $70 per barrel. If we had a normal $2 == £1 then we'd be paying even more
    for a gallon of fuel.

    If the barrel price stays in dollars and it goes down [ie $80 barrel]then we should see a drop in fuel prices.

    IF the government lowered the tax and Vat [dream on] we wouldn't be concerned with fuel price fluctuations so much.

    :nemo: :nemo:
  9. chieftiff

    chieftiff War Hero Moderator

    I've no doubt about that at all, US economy on the verge of collapse, morons "in charge" of banking establishments lending to bankrupts, our economy inseperable from the US's because our government has encouraged an economy based on "virtual" products rather than the manufacturing/ engineering/ production economy of an independent nation and huge corporations holding that government to ransom over corporate taxation with the threat of simply upping stix and moving somewhere cheaper (Germany)

    Should I go on? Something is going to give and when it does, well with the highest debt per capita pretty much anywhere in Europe only balanced because of the property equity hidden within that debt, well lets just wonder what will happen if interest rates rise again, not so much an economy as a game of dice!!!
  10. Because of the credit roundabout and the banks not knowing how much they have in assets [bad debts due to dodgy borrowers ] money is tight
    for the credit seekers--- however any rise in interest rates would really
    throw the economy a wobbler cos then they would have even more bad payers of loans----less bank assets.

    The downfall started with giving 100% loans----- the borrower doesn't give a toss if he pays it back or not!! It wasn't his money to start with!!

    :nemo: :nemo:
  11. Also theres been an interruption to oil production in the Southern USA for some reason.Speculators are also using oil insread of the Dollar due to the crap financial situation in the states.
  12. I already said that! Stop playing with the Po Stoker's new toy and get a grip!

    And Blobs, thanks for the offer of dinner, but when I want to sit on Dartmoor with a rat pack and a plastic mug of shitty coffee you will be the first to know.
  13. wet_blobby

    wet_blobby War Hero Moderator

    Rosey you tart, XXXX
  14. I wholeheartedly agree!
  15. I am so not getting it? How can I be a tart if I accept dinner on Dartmoor? Surely accepting the offer of being stripped naked and smeared in chocolate mousse might (only might) warrant being called a tart.
  16. No,thats Kinky tart!
  17. wet_blobby

    wet_blobby War Hero Moderator

    oh fcuk I'm Pished, Rosey, you have the misfortune of me wanting to lick you to death, shall I start on your toes, kness or inner ******s....bugger I cant spell it, the bit between yer knees and your hips......., not the "cosiff"
  18. The price you pay for petro/diesel in UK is high because of the Tax dear Cyclops hammers you for.
    Most countries in the EU pay a lot less for diesel than petrol.
    Here in Hungary I pay about 20p a litre less for non-leaded than UK......
  19. I am beyond speechless.
  20. wet_blobby

    wet_blobby War Hero Moderator

    Fcuk, stand bye, I haven't started yet.

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