Simon C

So they want to price fix

BBC NEWS | Business | Opec in talks on oil output cuts

ar5eholes, so the world is sufferening but they don't want to.

stilover

It does make me angry this. The world is falling into recession, and these w*nkers want to put the price of Petrol up.

Not that the price of Petrol has fallen in real terms to the drop in the price of Oil.

What's the betting the second Oil prices start rising again, the pump price goes up the same day.

PeteBrant

Don't worry - Flatcap will in in a minute to tell us all how we should actually be grateful that oil companies deign to sell us fuel in the first place, and we are actually getting it tremedously cheap..

stilover

?????????

Isn't that usually your job Pete?

PeteBrant

What? No - If It was a benefit scrounging immigrant petrol salesman, then yes.

Steve vRS

You forgot single parent.

Steve

Gear Head

iTrader: (2)

That was a bit harsh matey.

PeteBrant

That too

movi-star

iTrader: (1)

If Opec are price fixing then surely they should receive a massive fine, like any company accused of price fixing. Did'nt Supermarkets get told off for price fixing recently.

Spunky Cecil

Barstewards

FlightMan

Comparing supermarkets with OPEC is not really a fair comparison!

I think you'll find that OPEC has us all over an ( oil ) barrel. They have to balance the price with worlds ability to pay for it. Price it too high, we go into recession and use less oil, they get less income. Too low, and they're not getting the income they feel they should be.

Gear Head

iTrader: (2)

I wonder how long this will last?

BBC NEWS | Business | Supermarkets slash petrol prices

Luminous

iTrader: (3)

OPEC is one of the most powerful organisations in the world....in essence we can tell them nothing. We can ask, and as long as what we ask will get them more cash then they will probably do it. They are out to make the most money from a limited resource that will at some point be totally depleted.

Unfortunately, until we find a realistic alternative, we are stuffed.

Snazy

Reduced by 1.5 mill a day, and do not feel that it will have a serious impact on global fuel prices as a whole....

Lets see eh.

zs_phil

iTrader: (1)

currently down $8 a barrell from yesterday

Snazy

Until the news and action of next months production cut really takes effect.
They reckon it would equate to a 5ppl price rise for petrol, which would still keep it way down on recent prices.... lets see.

FlightMan

I don't think it will. Oil supply will drop off markedly in the current economic climate.

Nice to see you back posting Snazy.

marky1

They have always price fixed, they were price fixing when it was at $145. Cutting production probably won't do so much. The fall in prices has been due to dropping demand because the world economy is so bad (plus a strengthening dollar)

Snazy

Yeah as was said on the news, there is no one who controls them to impose any sort of punishment for price fixing, its the done thing.

Long term it was the markets that drove the price up, not the producers, as they pointed out themselves today. So fingers crossed the markets will stop ****in about and we can get some normality somewhere again.

Cheers FM

Snazy

So you should, see post #11

MrRA

Come one guys, they've only got a couple of hundred billion in the bank, and its hard times all around. They don't want to have to end up watching what they spend now do they!

J4CKO

iTrader: (1)

No sympathy, there was no talk of cutting production when it was double the price, it was all about demand, now the **** has fallen out of it they take their ball in, did they not make a couple of extra Trillion during the price hikes ?

They need to keep the price reasonable so people keep buying it, the rampant price rises were one of the reasons I started cycling, I am glad I did as I feel better for it, I can afford to buy petrol I just choose to not do, for me it isn't a necessity, I can manage quite well without a car. The thing is, the massive price rises have caused people to think like this, companies to put extra effort into more economical cars, alternative fuels and renewables and even though the price has dropped and the terminally short sighted will get all excited and rejoice by buying Ranger Rover Sport with Petrol engines it is only temporary as Opecs Machinations show.

It is inevitable the price will go back up, not to the prices we had in the summer but enough to make it cheaper than thinking about alternatives, the oil companies enjoyed the massive revenue but it was unsustainable indefinitely as it was fostering these new developments, I would love it if instead of the oil running out we just didnt need such vast quantities any more.

kingofturds

iTrader: (1)

The government should buy millions of litres at 92.9 p a litre and use it to fuel the invasion when they ramp it back up

Dan W

so OPEC are unhappy about the price of oil.

THEY ARE NOT THE ONLY ONE'S!

Robbing baaa studs

DYK

I haven't put petrol in the scoob for 3 weeks,not that i cant afford to.I was just waiting for the rip off fuel stations too bring the price down to what it should be..Now the ******* are gonna put it back up,and as been said,watch how quick it will go up over night..BTW i have just eaten a whole pack of biscuits with Petit Rio written on them.I got the munchies after having a few beers earlier..

Luminous

iTrader: (3)

That has to be post of the day