postnote Posted June 25, 2011 Share Posted June 25, 2011 For the second day running the price of oil has dropped to just under $105 per barrel. I wonder when this will be reflected on the forecourts. This drop follows the global energy watchdog's decision on Thursday to release an extra 60m barrels of oil on to the market over the next month. The International Energy Agency's move to sell 2m barrels of oil per day sparked an immediate sell-off, with oil falling $5 that day. It dropped a further $4, or 4pc to just under $105 per barrel on Friday. This action highlights the fact that commodity brokers sit on the oil or should I say in oil tankers around the world where they sell from. What you might not realise is that the so called greedy oil companies sell the oil they are extracting in advance so what is coming out now might have been bought in April for less than $90 per barrel. Although we produce North Sea oil it is what is called Brent Sweet Light Crude, easy to refine for petroleum with very little by products and not good for the likes of producing diesel. This is why we really heavily on Middle Eastern crude. In closing tax the oil commodity brokers and not the oil companies as it is the commodity brokers that dictate the price. Link to comment Share on other sites More sharing options...
nowtelse2do Posted June 25, 2011 Share Posted June 25, 2011 At the risk of starting another war :-D We were on the Pembroke Peninsular last year for a week, and looking across the bay towards Milford Haven there were 3 loaded tankers just parked up waiting for the price of oil to go up. I think if they practice this ruse in British Territorial Waters (12 nautical miles, I stand to be corrected) then they should be charged a huge anchorage fee. That would encourage them either to discharge their load or bu**er off. Dave Link to comment Share on other sites More sharing options...
Mel B Posted June 25, 2011 Share Posted June 25, 2011 Typical ... hubby's just filled the flipping motorhome up which cost £86!!! Mind, that's not as bad as the fill up he did in Northern Ireland ... £95!!! 8-) For info the best price we found diesel in the Republic was €1.359 - cash only transactions. Link to comment Share on other sites More sharing options...
BGD Posted June 25, 2011 Share Posted June 25, 2011 Sicknote asked: "For the second day running the price of oil has dropped to just under $105 per barrel. I wonder when this will be reflected on the forecourts." The answer? Within about 10 seconds.......... http://www.dailymail.co.uk/news/article-2007667/Is-start-petrol-price-war-Tesco-slashes-3p-litre-petrol.html Link to comment Share on other sites More sharing options...
postnote Posted June 26, 2011 Author Share Posted June 26, 2011 BGD - 2011-06-25 10:14 PM Sicknote asked: "For the second day running the price of oil has dropped to just under $105 per barrel. I wonder when this will be reflected on the forecourts." The answer? Within about 10 seconds.......... http://www.dailymail.co.uk/news/article-2007667/Is-start-petrol-price-war-Tesco-slashes-3p-litre-petrol.html Supermarket operators can afford to drop the price of fuels; this is not as a result of baulk buying but quality of fuels they sell. They normally buy the excess fuels that the major oil companies have, that are surplus to their requirements. Plus the supermarkets don’t put in the same additives that the major oil companies put in. I think you will find that if you start with a near empty tank and fill twice with major oil company’s fuel, then do the same with Supermarket operator’s fuel I think you will find you get a better MPG with fuel from the forecourt of major oil companies. Please before you berate me try it. Link to comment Share on other sites More sharing options...
postnote Posted July 2, 2011 Author Share Posted July 2, 2011 It’s not only oil prices that are dropping. The price of corn suffered its biggest fall for 15 years on Thursday, prompting speculation that the high cost of food may start to ease. Does this mean my Kellogg’s will be cheaper soon? Double bonus at the supermarkets. Link to comment Share on other sites More sharing options...
Randonneur Posted July 2, 2011 Share Posted July 2, 2011 Bruce, enlighten me, why do you keep calling Postnote Sicknote, are they one and the same people? Link to comment Share on other sites More sharing options...
Randonneur Posted July 2, 2011 Share Posted July 2, 2011 Didn't we have a member on here called Sicknote at one time? Link to comment Share on other sites More sharing options...
postnote Posted July 2, 2011 Author Share Posted July 2, 2011 Randonneur - 2011-07-02 8:57 AM Bruce, enlighten me, why do you keep calling Postnote Sicknote, are they one and the same people? Bruce, alzheimers,Bovine spongiform encephalopathy maybe a common link? :D :D Link to comment Share on other sites More sharing options...
malc d Posted July 3, 2011 Share Posted July 3, 2011 Just been wandering around 'up north'. Couple of weeks ago, diesel in Durness was 156 pence per litre Couple of days ago diesel in Berwick was 133 pence per litre. Pays to shop around, if you don't mind travelling a few hundred miles to do it ! ;-) Link to comment Share on other sites More sharing options...
nowtelse2do Posted July 12, 2011 Share Posted July 12, 2011 Anything happened in the last 24hrs. Just went for some derv and it was £1.389 ltr, Yesterday it was £1.339 ltr. (?) Dave Link to comment Share on other sites More sharing options...
Guest pelmetman Posted July 12, 2011 Share Posted July 12, 2011 Is it still going down? as I'm thinking of splashing out on 500 litres of heating oil:D Link to comment Share on other sites More sharing options...
postnote Posted July 12, 2011 Author Share Posted July 12, 2011 nowtelse2do - 2011-07-12 7:53 PM Anything happened in the last 24hrs. Just went for some derv and it was £1.389 ltr, Yesterday it was £1.339 ltr. (?) Dave Maybe you should have used the same petrol station as the day before :D :D Link to comment Share on other sites More sharing options...
nowtelse2do Posted July 12, 2011 Share Posted July 12, 2011 postnote - 2011-07-12 8:25 PM nowtelse2do - 2011-07-12 7:53 PM Anything happened in the last 24hrs. Just went for some derv and it was £1.389 ltr, Yesterday it was £1.339 ltr. (?) Dave Maybe you should have used the same petrol station as the day before :D :D I did, yesterday petrol was £1.319 today its £1.359. I was thinking i'd missed the start of another war 8-) Dave Link to comment Share on other sites More sharing options...
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