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"Just seen on my Facebook feed, that Tescos on Old Kent Road (London), is the 1st garage to go sub £1. Now it's even cheaper for you to five to me and give me a blow job Not if i've got to 'five' to London first to buy the petrol to 'five' back to you it isn't! Fairplay though hun - good effort! " "Lolz" | |||
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"And the price per barrel continues to fall. Possibly more price reductions at the pumps on the way. It's also keep the inflation rate down too and, therefore, there is less pressure on the Bank of England to raise interest rates - which would kill quite a few people with massive mortgages. Not good news for Russia though, their economy is now in free-fall since a massive proportion of their GDP is based on oil and gas exports. A newly independent Scotland would also have been in the financial shit." I'm sure ive read that Russia's economy is based around $100 a barrel of oil. I've got an app to track the gold & silver price which has oil price on too oil is $48 today | |||
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"I can remember the outrage when petrol went up to 50p a gallon. " When it changed from £sd to £p it was 33p per GALLON! | |||
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"Is that good? Price of water will go up now. . We've got to be ripped off somewhere else to compensate! " Paying for water I'll post you some. | |||
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"Think of the money the government is losing. We can expect a big rise at the next budget" The government is losing nothing. Fuel duty is a fixed rate pence per litre. Which is why pump prices don't go down at the same rate as a barrel of oil does. The thing that is really annoying is that they charge VAT on the duty as well (tax the tax) | |||
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"And the price per barrel continues to fall. Possibly more price reductions at the pumps on the way. It's also keep the inflation rate down too and, therefore, there is less pressure on the Bank of England to raise interest rates - which would kill quite a few people with massive mortgages. Not good news for Russia though, their economy is now in free-fall since a massive proportion of their GDP is based on oil and gas exports. A newly independent Scotland would also have been in the financial shit. I'm sure ive read that Russia's economy is based around $100 a barrel of oil. I've got an app to track the gold & silver price which has oil price on too oil is $48 today " . Everybody's economy is based on 100 dollar barrel the difference being Saudi have a trillion dollar wealth fund to fall back onto and there oil is still profitable at 40 bucks, where as if you look around the fracking companies are going tits already (which I'm very happy about personally) because it costs between 70-110 just to produce. The us fracking boom literally came from the QE and 0% interest rates, it was a purely speculative gamble which is going south quickly... Which in itself is pretty bad as most of the banks are derivited to the hilt on oil prices. Some things never change! | |||
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"it is 105.9 per litre here..... and ladbrokes have it as odds on that it will be less than £1 per litre by the end of the month...... it is weird that i have changed the way I have filled up the car in the last few months.... i use to do it when the tank was half empty.... now i wait till the last possible moment just in case the prices keep dropping" Same here, never ever went below 1/4 tank till now. | |||
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"My dream winter, petrol less than £1 a liter and a foot of snow... " or less than £1 a litre, I'm not fussy...lol | |||
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"In the run up to the elections, I'm not surprised the prices are falling." this one has nothing to do with elections and everything to do with the price of a barrel.... in the last 15 months it has basically dropped from 115 dollars a barrel to 45 dollars a barrel so the price of petrol at the pump has dropped but it is interesting that the price of airline flights hasn't dropped yet... but that should happen soon | |||
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" this one has nothing to do with elections and everything to do with the price of a barrel.... in the last 15 months it has basically dropped from 115 dollars a barrel to 45 dollars a barrel " I'm still interpreting the cause as a political one though | |||
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"In the run up to the elections, I'm not surprised the prices are falling. this one has nothing to do with elections and everything to do with the price of a barrel.... in the last 15 months it has basically dropped from 115 dollars a barrel to 45 dollars a barrel so the price of petrol at the pump has dropped but it is interesting that the price of airline flights hasn't dropped yet... but that should happen soon" I hope so - I've not had a holiday in almost 3 years | |||
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"Sadly i suspect that the price of Oil will head back up as quickly as it has fallen What i would like to know is why Gas and Electricity prices have not moved a penny yet?" . It's winter . They buy gas in bulk 8 to 12 months ago. So the price they paid then would have been higher, but truth be known.... There a bunch of fucking crooks like bankers. One nice cartel of profit | |||
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"Sadly i suspect that the price of Oil will head back up as quickly as it has fallen What i would like to know is why Gas and Electricity prices have not moved a penny yet?. It's winter . They buy gas in bulk 8 to 12 months ago. So the price they paid then would have been higher, but truth be known.... There a bunch of fucking crooks like bankers. One nice cartel of profit" And maybe because oil fired generation makes up very little of the nations fuel mix?! | |||
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"Sadly i suspect that the price of Oil will head back up as quickly as it has fallen What i would like to know is why Gas and Electricity prices have not moved a penny yet?. It's winter . They buy gas in bulk 8 to 12 months ago. So the price they paid then would have been higher, but truth be known.... There a bunch of fucking crooks like bankers. One nice cartel of profit And maybe because oil fired generation makes up very little of the nations fuel mix?! " . 30% is made up of gas generation though and LNG has fallen along with oil. In fact the drill baby drill fracking revolution in the USA pushed down gas way before oil because you get gas in a bigger quantity than oil. Cartels always keep their prices high, that's why we got opec in the first place! | |||
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"it is 105.9 per litre here..... and ladbrokes have it as odds on that it will be less than £1 per litre by the end of the month...... it is weird that i have changed the way I have filled up the car in the last few months.... i use to do it when the tank was half empty.... now i wait till the last possible moment just in case the prices keep dropping" Im doing exactly the same thing at the mo , ive a Quater of a tank left and im just hanging on untill paye day on Friday in case we hit the £1 mark at sainsburys , nectar points lol | |||
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"Here in France, diesel is cheaper than petrol. Currently diesel is around 83p a litre and still slowly falling. Just in time for our visit to the UK next week....!! " . Only because of tax!. The demand for heavy oil fuels is currently well out of kilter with petroleum spirit, which is why petrol is discounted by the refiners as they tend to be making surplus. The huge turnaround in the past twenty years from petrol to diesel cars and the huge increase in air travel have caused the refiners quite a bit of supply problems. | |||
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"Don't get too excited, it'll be on the rise soon enough - once Russia has been squeezed and fracking starts. " . Exactly but it really all depends on how long gdp is depressed for. If there was a sudden uptake in growth Saudis plans would be pissing into the wind | |||
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"I bet Alec Salmomd is breathing a sigh of relief that Scotland didn't vote for independence they based their economic figures on $100 per barrel- makes it tricky for Nicola Sturgeon though lol" Eck won't be bothering about petrol prices though. The SNP has awarded him a chauffeur driven car. | |||
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"Hope it gets even cheaper again. Be nice to watch the petrol amount being more than the money as you're filling, been a very long time! " It'll go up after the election. Who ever wins there is no way the won't tax it back up to at least 120p | |||
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"There is a lot of politics involved in this and in the next few months anything could happen. It started as the Chinese economy started to slow and and their demand for oil was cut causing a small price drop. Usually OPEC, led by the Saudi's, would cut production to keep the price up, this time they didn't. The Saudi's saw an opportunity to not only screw their greatest enemy in the region, Iran, which still needs a high oil price, but also Putin's Russia who are supporting another enemy, Assad's Syria. They were also a bit nervous about the US becoming self sufficient in oil through fracking and a low oil price would put many fracking company's under severe pressure or even into bankruptcy leading to the US being reliant on imported (Saudi) oil again. Personally I think we can enjoy the low prices for a few months yet but eventually OPEC will cut production and force the price back up. Here in Spain Diesel averaging around 1.08€ and unleaded at around 1.12€. Brent crude at $48.78 and falling " OPEC will have to settle for a barrel price that makes it just uneconomic for fracking. | |||
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"Can I get that 5.7 litre V8 i've had my eyes on now? lol" Go for it...I'm using my 2.8V6 more and the diesel runaround less now. | |||
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"Can I get that 5.7 litre V8 i've had my eyes on now? lol Go for it...I'm using my 2.8V6 more and the diesel runaround less now. " Wish I had the £££'s to get it. This year though, hopefully. Mind you, I need to sort the rear axle on the 3.8 first, lol | |||
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"Can I get that 5.7 litre V8 i've had my eyes on now? lol" I drive one and I've taken it off the road for a full rebuild! All in the timing... | |||
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"There is a lot of politics involved in this and in the next few months anything could happen. It started as the Chinese economy started to slow and and their demand for oil was cut causing a small price drop. Usually OPEC, led by the Saudi's, would cut production to keep the price up, this time they didn't. The Saudi's saw an opportunity to not only screw their greatest enemy in the region, Iran, which still needs a high oil price, but also Putin's Russia who are supporting another enemy, Assad's Syria. They were also a bit nervous about the US becoming self sufficient in oil through fracking and a low oil price would put many fracking company's under severe pressure or even into bankruptcy leading to the US being reliant on imported (Saudi) oil again. Personally I think we can enjoy the low prices for a few months yet but eventually OPEC will cut production and force the price back up. Here in Spain Diesel averaging around 1.08€ and unleaded at around 1.12€. Brent crude at $48.78 and falling OPEC will have to settle for a barrel price that makes it just uneconomic for fracking. " That is probably where it will finish by the middle of the year. Update on the Spanish prices. I drove past a large supermarket station this morning and diesel was 97 cents (74p) and unleaded 1.05 € (84p) | |||
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"Just seen on my Facebook feed, that Tescos on Old Kent Road (London), is the 1st garage to go sub £1. Now it's even cheaper for you to five to me and give me a blow job " Just watch out for the lads on mopeds shooting at you, especially if you are driving an Audi. A modern day risk reward challenge... | |||
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"Brent Crude $47 a barrel." Heading south rapidly. Now $45.60. They will be paying us to take the stuff away soon. | |||
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"Think of the money the government is losing. We can expect a big rise at the next budget The government is losing nothing. Fuel duty is a fixed rate pence per litre. Which is why pump prices don't go down at the same rate as a barrel of oil does. The thing that is really annoying is that they charge VAT on the duty as well (tax the tax)" Yes, the same thing applies on alcohol and tobacco duty. The government is losing some money though. The VAT goes up and down with the retail price so both Osbourne and Balls will have to re do their sums between now and May. | |||
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"My 3.0V6 is seeing a bit more use than my 2.0D " Haha I was just thinking I might start driving my 4.6 v8 a bit more now, great minds lol | |||
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