$34 for a barrel of oil
 

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

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

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.

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

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?

the last barrel will end up on ebay :p ^


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

The price going up at the pump is because of the weak pound and less to do with the barrel price at the moment.

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.

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

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

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

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

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

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 ;)

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. :eek:

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

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