Re: Brent now a smidgen over $80 a barrel

Brian Robertson wrote:
Boltar wrote:
On Oct 8, 9:30 am, "Depresion" <127.0.0.1> wrote:
Now while most of us would say it's fallen massively since the summer and
dropped 4% a day this week others would describe it as a short term,
localised downwards anomaly and that $200 a barrel is still on the cards this

Fat chance we'll ever see that much of a price drop on the forecourts.
The oil companies are quick to wave oil prices in front of our noses
as a reason to raise petrol prices within 24 hours of oil prices
rising but they always have a long list of excuses as to why they
can't drop it again by more than a few pence a litre and when they do
drop it its always about 2 weeks after the event.

Exactly. Can anyone say what the price on the forecourt was the last time that crude was $80 a barrel? The price of crude is somewhat of a red herring when taken in isolation from other factors including, as you rightly say, the greed of the oil companies.

You can see the price over the last three months here:

http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/commodities/28698/three_month.stm

(You can also select this for twelve months or one month.)

According to my records petrol went over £1 per litre in October 2007. That seems to have been when oil was around $80 per barrel. Problem is you also have to factor in £/$ exchange rates as well.

Our local Tesco is at 105.9 and Morrisons at 106.9 at the moment.


--
John Wright

I used to drive a car a lot also, which probably contributes to back
troubles. - Doug Bollen.
.

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