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"I thought that the USA and OPEC increased production to counter Russia's holding back of production. In addition Biden releasing the strategic reserve helped. Now there is more available the price drops. The other thing is the dire straits of the post Brexit UK economy has the pound at around £1:14 so oil costs more for us anyway." I thought OPEC had resisted requests they increase demand (enjoying their War Bonus)? | |||
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"Petrol £1.62 Diesel £1.77 What's changed or was the quiet chat and an investigation into profiteering that's scared them into submission? I am unaware of a glut of Oil for UK petrol refinaries and Diesel in the markets, so a genuine explanation for it.. Or is there?" From what I have read and seen, oil prices were well over one hundred dollars a barrel at one point giving the eye watering pump prices. Although America released oil onto the market a while back it had little effect. Biden asked Saudi/opec to increase production immediately. They refused and instead said production will increase month by month steadily to at least September. Now oil is around 90 dollars a barrel. Pump prices would be lower across the world if the dollar was not so strong currently. I'm sure there is much more to it but that's what I see | |||
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"Petrol £1.62 Diesel £1.77 What's changed or was the quiet chat and an investigation into profiteering that's scared them into submission? I am unaware of a glut of Oil for UK petrol refinaries and Diesel in the markets, so a genuine explanation for it.. Or is there?" Simple economics... | |||
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"Costco is around 15 to 20 pence a ltr cheaper than anywhere else ."Unleaded £1.529 a litre in COSTCO Haydock yesterday. | |||
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"Costco is around 15 to 20 pence a ltr cheaper than anywhere else .
Unleaded £1.529 a litre in COSTCO Haydock yesterday."It's been £1.55 for weeks in our local GO | |||
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"Costco is around 15 to 20 pence a ltr cheaper than anywhere else .
Unleaded £1.529 a litre in COSTCO Haydock yesterday.
It's been £1.55 for weeks in our local GO"Might have been like that at COSTCO as well but the last time I put petrol in the car was back in May. | |||
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"Costco is around 15 to 20 pence a ltr cheaper than anywhere else .
Unleaded £1.529 a litre in COSTCO Haydock yesterday."unleaded in Costco Leicester is £1.47. diesel is £1.67 | |||
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"I thought that the USA and OPEC increased production to counter Russia's holding back of production. In addition Biden releasing the strategic reserve helped. Now there is more available the price drops. The other thing is the dire straits of the post Brexit UK economy has the pound at around £1:14 so oil costs more for us anyway. I thought OPEC had resisted requests they increase demand (enjoying their War Bonus)?" Only as long as it took to drive the price up.  | |||
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