I'm sorry Esq, I have to disagree with you strongly on this one; petrol prices NEVER fall, they just variably increase.

decimalisation=petrol price rose
73 oil crisis=petrol price rose
North Sea oil online=petrol price rose
VAT in 1976=petrol price rose
pound at record low against a basket of other currencies=petrol price rose
oil glut in the 80s=petrol price rose
oil price per barrel hits rock bottom=petrol price rose
every fookin budget whether Tory or Labour=petrol price rose
metrication=petrol price rose
pound at record high against a basket of other currencies=petrol price rose
Iraq, with huge reserves of oil, captured by US/UK coalition=petrol price rose

so you see, it really doesn't matter how cheap the oil is at source; the price we pay at the pump never actually goes down, but the oil companies profits go sky-high.

Forgive the pun Esq, but I beleive conspirisy in the control of prices of oil is to blame. There is no reason in the US for prices of gas to start at $1.50 one week, then start dropping to $1.45 only 2 weeks later to rise to $1.60. The US buys oil aborad as well as Alaskan oil and Offshore Oil. No reason for supplys to vary that much.

Michael "Finalday"
In Memory Of WLB

Edited by - Finalday on 3/19/2004 3:32:11 AM

It's all based on speculation about what the oil market is going to do. The petrol companies will look at the market and go "Hey, there's that war thingy going on in Iraq and they have'nt captured that Osama fellow yet. Hmm the market must be unstable, let's up the prices so we can weather a possible correction in the oil market and if we're wrong, we can all buy new boats! Now, how about a few random firings to celebrate."

You really do need to be an economy major to understand the nitty gritty of it all though, but oil is one of the most fluctuating commodities on the market, hence it's constantly going up and coming back down again. Best not to think about it really, there are so many different faecets that can affect the price of a commodity, that's why economists are screwing the pooch half the time.

The US buys its overseas oil from several places. Mid east, from the Saudi Arabia area rather than Iran/Iraq area, plus we get it from argentena, and other countrys, so it is a good mix of supply. But OPEC can get greedy and cut productiona suddenly prices go up.

Michael "Finalday"
In Memory Of WLB



Edited by - Finalday on 3/19/2004 3:39:15 AM

i think for the uk people here a more relevant question would be why doesnt the price of petrol fluctuate more
as taw says it really only ever goes up even when a major reductuon in the price of crude occurs but when it returns to its previous level they increase it again citing the "increase" in the price of a barrel

because we're British and stupid and obedient, Geoff, and we pay it regardless; in other countries the public won't stand for it, but if say it went up to £20 a gallon in Britain, we'd still fookin' pay it, wouldn't we?

probably
mind you britain is the only country where ive heard of cars being stolen just to pinch the petrol out the tank at £20 a gallon i bet a few more cars would go awol

Prices very so much in the US even. My area reg unleaded gas running $1.59 gal. While California, it can run $2.55 a gal. What is the equivilancy in Britain?

Michael "Finalday"
In Memory Of WLB

Edited by - Finalday on 3/19/2004 6:17:35 AM

Has anyone hear heard of OPEC?

@final well a ball park figure would be $6 or $7 a gallon but that is a rough figure

@Indy,

Ya, I know what it is. They control the prices.

Life: No one gets out alive.

it's about £5 a gallon, so thats about $7 like Geoff says. $2-55 a gallon? wtf is wrong with that, that's about £1-60, we haven't had prices like that for 20yrs.

@Esqy and Taw

We are very spoiled here in the US. Having our own oil reserves as well as being the source of many of the oil exploration companies as well as oil companies in general, we've been able to keep our prices down lower than Western Europe and the Far East. It is, in fact, a key economic and political factor for politicians and the oil companies alike.

Price records here indicate that the per unit cost of retail gasoline has, in fact,
fluctuated up and down in actual net terms although if one were to use a longer time line (and not account for inflation, etc.), in total dollars and cents, gasoline prices only have risen over time. For a while, prices were less than at peak levels in 2003 (for example).

But we are not immune to OPEC as we do consume more than we can produce at home or care to it would seem.

I am hoping that the fuell cell movement eventually takes off and, in the interim, hybrid vehicles.

my next car's gonna be a diesel AND I'm going to use red diesel from one of me m8s whose a farmer, fook paying Gordon Brown's fuel duty. 3/4 of our fuel costs are govt tax, they'd NEVER get away with it in the States but oh no, in Britain they can screw us for every penny we've got and we're all so dutiful we just grumble and pay up. Fook that game.