Boro

iTrader: (1)

So how come petrol hasnt come down? Infact, its gone up!

BBC NEWS | Business | Economy woes push oil below $34

CharlesW

Note that, that is the price for crude produced in the USA. Brent crude is still around $44 a barrel. Hence no change in the price of petroleum products here.

zs_phil

iTrader: (1)

have noticed the price almost going up daily again v power is 94.9 here now but still better than last years .
total garages are even worse 90p for unleaded

hodgy0_2

the underlying pressure on oil prices is very firmly up

i,m afraid everyone is going to have to get used to high oil prices very soon

I wonder how much the last barrel will cost?

sarasquares

iTrader: (1)

the last barrel will end up on ebay ^


ive noticed the prices slowly creeping up, here it is 89p litre now, was as low as 82p

FlightMan

Inflation due to the weak pound.

As we import far far more than we export, this is where inflation is going.

Watch those IR rise folks.

dpb

Im guessing the figure has no bearing on the real price in much the same way our intrest rates are totally unrealistic

Gear Head

iTrader: (2)

Explain to me how increases in petrol prices will lead to interest rate increases?

TopBanana

Interest rates are risen in order to control inflation. Although this doesn't apply so much to petrol as to luxury items.

Janspeed

iTrader: (1)

Noticed it had gone up yesterday................

hodgy0_2

hate to say it but at £1 a litre petrol is pretty cheap (relatively) compared to what it was 15/20 years ago

Spooky Mulder

As above - oil markets are in dollars and we have lost 25% of our value against the dollar. If it was the same as a year ago petrol would be very cheap!

What I want to know is where is Mart - our oil industry spokesman who confidently said the 'days of the sub-$100 barrel' are long gone!!

I guess he was busy investing in RBS shares when they were £12

FlightMan

Most of what we buy is imported. As the pound weakens the price we pay rises. Rising prices is generally called inflation. Interest rates are used to control inflation.

A slightly odd ball example is the price of cucumbers. We buy one a week, my kids love them in sandwiches. Before Xmas they were 74p in Sainsburys.







Today I paid £1.24.

Wurzel

iTrader: (1)

V-Power here is €1,34.9 a litre which works out to be 1.20 GBP and this is a standard price that only slightly varies.

I would love to be paying 90p a litre or €1.01

zip106

There was also a high price spike in January so it affected prices for February delivery.
Or so I read.