Fuel prices

[ltmltm]

some kids in my town put a big cardboard poster saying XFM below the diesel price at the esso (£104.9) i laughed.
and the petrol price keeps going from 98p to 101.4 and back again depending on the day
it's ridiculous

[Pezz121]

The petrol retailers do not determin the Petrol price we pay at the pumps in the UK.

First off , you have Opec who controll the supply . When there are lots of stocks , they produce less , and drive the price up . When theres less stocks , everyone panics , and buys more , and the price goes up.

Secondly , we have the UK Government , who take 50p per litre Duty , and then there is 17.5% vat . Add that up and we are already at about 70p per litre .

Thirdly , and I personally hate this one , we have the "Futures Market" . These people trade the future price of oil , expecting it to go up , so that they can make money , out of doing nothing . The more bad things happen , Iraq , Iran , stock shortages , Winter for Americans , a pipe line bursting or being blown up , then this drives there profits up even more . Plus they can also stock pile stocks , and then let the world think that we don't have any , so the price goes up even more .

So , until we can , as a world market , combat these three things , then little old Johnny , hasn't got a hope in hell I'm affraid .

[abbas_ali]

To be honest, there really isn't much foul play going on. Its basic economics of supply and demand - demand is extremely high and thus the price will always be relatively high plus take into account instability in the middle east and thats why the prices are high.

Personally, i very much dislike many of the practices of the oil corporations but i don't think you can blame them here.

[madrat]

its true, at your petrol forecourt, the shop will be making more profit than the sale of petrol.

[BGonaSTICK]

Originally Posted by Pezz121

The petrol retailers do not determin the Petrol price we pay at the pumps in the UK.

First off , you have Opec who controll the supply . When there are lots of stocks , they produce less , and drive the price up . When theres less stocks , everyone panics , and buys more , and the price goes up.

Secondly , we have the UK Government , who take 50p per litre Duty , and then there is 17.5% vat . Add that up and we are already at about 70p per litre .

Thirdly , and I personally hate this one , we have the "Futures Market" . These people trade the future price of oil , expecting it to go up , so that they can make money , out of doing nothing . The more bad things happen , Iraq , Iran , stock shortages , Winter for Americans , a pipe line bursting or being blown up , then this drives there profits up even more . Plus they can also stock pile stocks , and then let the world think that we don't have any , so the price goes up even more .

So , until we can , as a world market , combat these three things , then little old Johnny , hasn't got a hope in hell I'm affraid .

Spot on

[Yorks]

I wonder why the prices increase in winter