Oil now back under $100 a barrel

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16 September 2008, 08:07 AM

#31

Paul3446

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After a quick bit of research, I reckon unleaded was about 93p a litre when the oil price was last $88.

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16 September 2008, 08:43 AM

#32

Gear Head

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Don't forget that the £ has lost strength against the $ though.

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16 September 2008, 12:38 PM

#33

MattN

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I did read that the oil is bought in advance. So whilst the price is $88 now that oil won't be delivered until next month?

Could be wrong ...

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16 September 2008, 12:40 PM

#34

PeteBrant

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Quote:

Originally Posted by MattN

I did read that the oil is bought in advance. So whilst the price is $88 now that oil won't be delivered until next month?

Could be wrong ...

Yeah, that's the excuse they use when the price is getting lower.

Did you notice anyone saying "ahh we buy our fuel in advance, so don't worry, we wont be putting the price up yet" when it was rising?

Neither did I.

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16 September 2008, 12:41 PM

#35

darts_aint_sport

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Quote:

Originally Posted by MattN

I did read that the oil is bought in advance. So whilst the price is $88 now that oil won't be delivered until next month?

Could be wrong ...

Yet when petrol goes up they raise prices immediately.

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16 September 2008, 12:55 PM

#36

Leslie

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Quote:

Originally Posted by scoobynutta555

I don't know when this golden era was.There's always been spivs and profiteerers and there always will be. And no natural resource, including oil, belongs to anyone at all if you want to be pedantic.

Of course there have always been spivs etc as you say, that does not justify the others though It has spread now to all the big companies who are able to fix the prices and take the rest of us for a ride because they are in cahoots.

I reckon that the general populace have a better claim on the world's resources than those who are able to take full advantage of their power to effectively steal our money.

Les

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16 September 2008, 10:11 PM

#37

Kieran_Burns

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Oil in steepest two-day slide since 2004 - Yahoo! News UK

nice little comment about how the investors aren't touching crude any more - a somewhat obvious statement to give credence to the idea that a great deal of the price hike was simply due to investor profiteering.

Ain't it great - we ALL suffer just so they can make more money.