The price of oil fell to its lowest level for six months.
Brent crude fell 60c a barrel to $61.57 in London last night, tracking the New York market lower, as the slump since July's $78.40 peak showed no sign of abating.
Analysts now expect the price to fall below $60 a barrel.
Full details at www.telegraph.co.uk/money/main.jhtml?xml=/money/20...l
Let us hope that these price falls are passed on at the pumps in the near future. At least the £1 per litre seems will not happen as quickly as we thought.
--
Roger
I read frequently, but only post when I have something useful to say.
|
|
Agreed re the £1 litre. It was 85.9ppl for u/l in Shell, Swansea (the Mumbles) last night, still not cheap of course, but going in the right direction...for now!
|
|
Well this is good news. Don't complain about 85.9. It is still £1.09 for both petrol and diesel at my local.
|
Was just on the news - national average for Unleaded has dropped below 90p (89.9) for the first time in more than 6 months.
Current local prices (Hants/Surrey) are 87.9 / 92.9 UL and Diesel respectively.
|
|
Does anyone know why the differential between petrol and diesel has opened up again? It went to near parity for a while...
|
|
|
|
Oil prices are falling still further and look like being about $50 a barrel by the end of the year according to analysts. The oil price has already slipped 24% in the past 6 weeks. Read the 3 articles in today's Telegraph for full details.
www.telegraph.co.uk/news/main.jhtml?xml=/news/2006...l
www.telegraph.co.uk/money/main.jhtml?xml=/money/20...l
www.telegraph.co.uk/money/main.jhtml?xml=/money/20...l
For motorists this means that current fuel prices of around 90p per litre are likely to fall still further. I would predict unleaded could reach below 80p on some supermarket forecourts in a few weeks time. The only potential risk may be that Gordon Brown sees this an opportunity to raise excise duty in the near future.
--
Roger
I read frequently, but only post when I have something useful to say.
|
|
Local Asda today is selling u/l at 84.9 ppl, and diesel at 89.9 ppl. Nice to hear of the oil price falling for a change!
|
>>Local Asda today is selling u/l at 84.9 ppl, and diesel at 89.9 ppl. Nice to hear of the oil price falling for a change!
That's right, unless you run Ryan Air who locked in to a 3 month deal at $73 a barrell! Costing them an extra 15 million Euros at current prices.
--
Roger
I read frequently, but only post when I have something useful to say.
|
Is Michael O' Leary intending to sue someone about that as well ?
--
Soupytwist !
|
The price difference between petrol and diesel seems to be at its largest ever. Driving back to Exeter from Plymouth last night and there's a Shell garage on the A38 selling UL petrol at 84.9ppl and diesel at 91.9ppl. I've never known the difference to be so big. Must be due to more people buying diesel cars.
Martin
|
The price difference between petrol and diesel seems to be at its largest ever. Driving back to Exeter from Plymouth last night and there's a Shell garage on the A38 selling UL petrol at 84.9ppl and diesel at 91.9ppl. I've never known the difference to be so big. Must be due to more people buying diesel cars.
Yes, they have more of a 'captive audience' of diesel drivers to rip off. Diesel is after all a cheap abundant almost by-product of crude oil which costs much less to produce than petrol.
|
The price difference between petrol and diesel seems to be at its largest ever.
Back in the early summer there were a number of garages selling petrol and diesel at 99.9ppl. This seems strange that they were both the same and makes me wonder if they decided to subsidise the price of petrol from diesel sales. Now they are using petrol as a loss leader and making diesel (more likely company drivers) relatively higher in price to compensate.
There was a question asked yesterday in the business section of the Telegraph with telephone voting. "Would you go out of your way to drive to a cheaper source for petrol or diesel?" The answer was exactly 50:50. So this might explain the differential rising unexpectedly high for this time of year.
There could be another simple answer. They had just had a delivery of petrol and reduced the price accordingly, but were still selling their existing diesel. Until they get a new diesel delivery they may feel justified in holding the higher price.
--
Roger
I read frequently, but only post when I have something useful to say.
|
I assumed that the lack of difference in price at 99.9p per litre was due to many petrol stations not being able to disply prices of 100p per litre or greater on their roadside signs. They would have charged more for diesel but were unable to display the price.
--
Soupytwist !
|
I don't normally pay attention to prices but I did a double take when I saw petrol for 83.9p a litre at a station in Liverpool before.
|
|
|
|
