View Full Version : Brent Crude At $86.

7th Oct 2008, 15:47
Scary times on one hand its bloody good news on the oil front which seems to be falling like a brick on the other, where has all the money gone. We learch from 9.11, Sars outbreak, terrorist threats, Oil prices, now the Credit Crunch. What next ..?

7th Oct 2008, 15:57

BBC NEWS | Northern Ireland | Aer Lingus axes up to 1,500 jobs (http://news.bbc.co.uk/1/hi/northern_ireland/7655974.stm)

7th Oct 2008, 16:02
The brick continues to fall, Brent crude now at $84.90......

7th Oct 2008, 16:05
How come petrol still so expensive then ?

7th Oct 2008, 16:10
The price of oil may be falling but will there be any pax to carry around?

Shares in British Airways fell 7 per cent on Friday to their lowest level for more than five years as the airline announced a big drop in premium passenger traffic in September.
After five years of rapid growth, business aviation faces a downturn in its fortunes, as private jet users fly less, some seek to sell their aircraft, and financing becomes more difficult.

Then again, it is not all bad news, Virgin America is close to getting additional funding to expand their network.

7th Oct 2008, 16:11
Good question.........:hmm::suspect:

7th Oct 2008, 16:14
Wizo, my thoughts as well. This is a joke I can't see any reason why its not coming down. Strangs that the press have not picked it up yet...

7th Oct 2008, 16:23
Unfortunately there are two reasons keeping the go-juice price from coming down:

1) The oil price is $ based (the /$ ex rate is $1-75 to the vs. $2 to the not long ago....well done Mr. Brown)
2) The retailers are a bunch of thieving gorillas in wedding dresses...

'nuff said

7th Oct 2008, 16:36
Interesting graph here seems to confirm that..

Last year Oil at $82 would have produced petrol at 1/L.

The Relationship Between Petrol and Oil Prices (http://www.whatprice.co.uk/petrol-prices/petrol-oil.html)

7th Oct 2008, 16:52
Can't get to grips with this one. Given the process required to get the crude oil out of the ground and in to our cars, it seems that maybe 1.06 per litre is pretty good.

I base this on the cost of a half litre bottle of water available in our shops. The price per half litre can be as high as 150p which is of course 3 per litre. Given the simplistic view that the stuff simply falls out of the sky, is scooped up, cleaned and put in a bottle then petrol seems to be a bargain?

Or maybe we're just being had by the retailers.

7th Oct 2008, 17:15
Exchange rate changes are the culprit.

Poof in Boots
7th Oct 2008, 17:25
Before she was banned from PPRUNE, Tea Coffee or Me predicted in another thread that oil prices would be U$70 by next March.

Looks like it may happen even sooner.

Dr Jekyll
7th Oct 2008, 17:34
Given the process required to get the crude oil out of the ground and in to our cars, it seems that maybe 1.06 per litre is pretty good.

The actual petrol price (before tax) is a good deal I agree, it's the fact that the tax inflates the price so much that infuriates.

7th Oct 2008, 18:32
How come petrol still so expensive then ?


Alloa Akbar
7th Oct 2008, 18:58
I wonder why that is...?? Prices in the states change daily.

Lets see.. Robbing B'stard retailers in the UK? I'm paying 1.85 a gallon now.. bloody outrage!! :O

7th Oct 2008, 19:04
They are getting through all the options they signed up 6 months ago. Good newes is, they dont have to take the options up they bought recently. Which means although the premium they paid for the options has to be paid, prices should be coming down significantly soon :ok:

7th Oct 2008, 21:08
So long as the Pound doesn't sink any further against the USD!

Scumbag O'Riley
8th Oct 2008, 15:46
One remembers, must have been late '70s/early 80s (prior to privatisation) when the guvment wanted some money fast so they hiked the price of gas massively. They explained this as being neccessary for when far in the future the gas would be running out and so prices would go up, the cash raised would be used to subsdise prices. So here we are, far in the future, gas is running out, prices rocketing but where is the fecking cash now?

8th Oct 2008, 18:10
Where? Propping up the banks of course. :ugh: