Meltdown

Mattb · Post by **Mattb** » Thu Oct 09, 2008 12:09 pm

It is a complete mess, but one thing that is annoying me greatly at present is the crude oil/petrol price correlation. It's an absolute stitch up and blatant profiteering on a grand scale. I mean take today's prices for oil:

Nymex Crude Future 89.06
Dated Brent Spot 83.36
WTI Cushing Spot 88.95

All under $90 a barrel. Now when petrol first tipped over £1 a litre, oil prices had just gone through the $100 threshold. They continued to rise in line with oil up until the $147 a barrel mark, which left unleaded around £1.20 a litre. It has shed $50 since then, and for every $2 that oil loses, 1p should roughly be lost at the pumps. So really prices should be around the 95p a litre mark. We'll say £1 for leniency sake as the market has been volatile. Is it though? Is it hell, still up at 110.9p here. Only 9-10p has come off when it should be double that. Robbing bastards really piss me off. :x :x

Will anything be done? Of course not. Government get more revenue, retailers get more money, oil giants get more money, while we all suffer.

aaamusements.co.uk · Post by **aaamusements.co.uk** » Thu Oct 09, 2008 1:19 pm

I suppose with hindsight, it was never a good idea to put money into a country whose principal tangible export is Bjork.

milk monitor · Post by **milk monitor** » Thu Oct 09, 2008 1:21 pm

Luckily I'm in the black with RBS, due to a further purchase.

betchrider · Post by **betchrider** » Thu Oct 09, 2008 3:48 pm

Mattb wrote:It is a complete mess, but one thing that is annoying me greatly at present is the crude oil/petrol price correlation. It's an absolute stitch up and blatant profiteering on a grand scale. I mean take today's prices for oil:

Nymex Crude Future 89.06
Dated Brent Spot 83.36
WTI Cushing Spot 88.95

All under $90 a barrel. Now when petrol first tipped over £1 a litre, oil prices had just gone through the $100 threshold. They continued to rise in line with oil up until the $147 a barrel mark, which left unleaded around £1.20 a litre. It has shed $50 since then, and for every $2 that oil loses, 1p should roughly be lost at the pumps. So really prices should be around the 95p a litre mark. We'll say £1 for leniency sake as the market has been volatile. Is it though? Is it hell, still up at 110.9p here. Only 9-10p has come off when it should be double that. Robbing bastards really piss me off. :x :x Will anything be done? Of course not. Government get more revenue, retailers get more money, oil giants get more money, while we all suffer.

Yes its pissin me off to that isnt anybody else aware of this cos there has been nowt on the news about this

aaamusements.co.uk · Post by **aaamusements.co.uk** » Thu Oct 09, 2008 3:50 pm

One garage near me has put prices down.

Another has put prices UP!

As usual, the customer is getting screwed by big business (who also funded 9/11, Mike.

)

steveseagull · Post by **steveseagull** » Thu Oct 09, 2008 5:57 pm

I find it amazing that councils, police authorities, etc all over the country complain about budget deficits and then put up our council taxes way higher than the rate of inflation to cover them . . . . .and now we hear that these authorities have bank investments worth 100s of millions (kent cc into icesave for a cool 50mil!).
I know there are different reasons for these investments but on the face of it, it does look pretty damned poor. Gloucestershire county council has a 'war-chest' invested around the globe of over a billion quid!

I for my part was given 500 bradford&bingley shares as a wedding present. when we recieved them they were worth £5.61 each

Oh well at least the marriage has lasted longer!