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Despite Mr Brown adding 1 1/2p to the price of fuel, isn't it odd how both my local Sainsburies and local Esso have just hiked their diesel by 4p?! Very strange! Anyone else noticed that?
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Anyone would think they were hoping that people would vaguely remember the per gallon hike and think they were doing well...
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What's new?
Every time there's a duty increase or media coverage of "world oil shortages", etc then the price of fuel goes up several pence. To vainly try and avoid the increase everyone goes out and fills their tanks, which causes a temporary shortage, which pushes the price up again!
Market force / supply and demand - call it what you want. It still surprises me that, in this day and age, people expect state operated price controls to be in place.
Look at the range of fuel prices, at any one time, across the country. It's not difficult to find 5p/litre different between two towns nearby - it's due to a variation in competition in the two areas.
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Another question is why, with the dollar so low against the pound and oil being traded in dollars are fuel prices still high. I seem to remember a few years back when the pound was getting a hammering against the dollar petrol retailers were quick to hike the prices and blame it on the strong dollar. Obviously doesn't work in reverse. Seems to me they are trying to claw back a bit of profit at our expense.
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We all know how much petrol and diesel prices keep going up (and occasionally coming down for a short period) which, in turn, affects prices of food, drink and virtually all other commodities - same for Council tax, gas and electricity etc etc.
Yet our friend who would be PM if and when he can, supported by the Treasury, still adamantly maintains that inflation is still at around or under his target figure.
Pity such people can't live in the real world rather than have everything laid on a plate for them seemingly without any personal outlay...:-)
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What\'s for you won\'t pass you by
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The price of fuel around me (the midlands) seems to have jumped up by around 3p a litre overnight.
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The price of oil fell to $55 per barrel in Sept/October and is currently $63.44 as I write. There is a seasonal impact caused by the winter demand for heating oil. Also Opec have cut production and are threatening to cut more.
States like Saudi Arabia and Iran and Venezuela would have a major budget crisis if oil went below $50 for any length of time. as they are spending every $ they earn -- and that's with high prices. Chavez in Venezuela has seen oil production fall some 20% plus in the past 5 years - partly as a result of his policy of nationalising oil companies .
And China is building some 5 million cars a year as its economy expands 9% pa..
Despite what some surveys suggest world oil resources - at least cheap oil resources -are finite. But there would be alot of crude oil around and prices would fall if Opec did not cut. There is , however, a refinery capcity problem as more oil is heavy and high in sulphur - which is more costly and difficult to refine...
madf
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Little bit like when he puts a penny or two on a pint of beer it always seems to go up 5p in the pub...........
My local mein host always used to argue that it kept it simpler for the bar staff if all the prices were in 5p multiples, I pointed out that they didn't need it simple because they never add anything up these days as the till does it for them, all they do is push the right button for a pint of wallop and it adds it all up. Mind you after three or four budgets doing that, his clientele having disappeared, the pub became an estate agents :-)
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