Crude Oil drops below $127

Joseph Kuhr

kluivert wrote: »

Everyone pulling money out from equities into commodities, silly fookers never thought of the effects it

Its all very bubbly indeed...

Joseph Kuhr

MYOB wrote: »

If I could pay the new road tax on my car (rather than the older, higher rate) it'd work out at 4 tanks of fuel - about 4% of a years usage. Most of the countries in Europe with more expensive petrol are more than 4% higher.

The point being you pay for what you use. Nothing more nothing less. You can't get any fairer than that. But unfortunately we live in a socialist society and we have to spread the debt evenly :rolleyes:

MCMLXXXIII

kluivert wrote: »

...Bring back the days when I started driving in 2002 when the price of petrol was 86c a litre, awh those where the days!

Bring back the days when I started driving and it was 89c a gallon!

It's obviously still less here in the US than it is at home, but there is major inflation and a recession. Choose your poison.

BTW, for anyone looking at the Dow Jones and saying that "It's still at $12,000, and compared to 7 years ago that's great" can kiss it. Although it's better than it was, it's still down $2K from where it was before and there are more homes being foreclosed in the US than there was during the Great Depression. There is an issusion that high stock proces are good for the economy - what good is rising stock prices. The oil stocks have plateaued or are falling. Also, as an example, ExxonMobil has 5,194,003,000 outstanding stocks. To compare, General Motors has 566,163,000. It's going to get worse before it gets better in the US, and hopefully the oil companies will beef up production to look good and make their shareholders feel secure, but a lower stock price will attract less speculation, which hopefully will lower the price per barrel...or at least prevent it from going up.

I do have one question though: back in Ireland, are they charging a different price for petrol if you use cash vs a credit card? They have been doing that here for a while and I just don't get it. The price difference is anywhere from 5c to 16c per gallon. I haven't been back since they started it here, so I don't know if it's a US thing, or if it's a ExxonMobil/Shell/BP thing, or what.

HashSlinging

crude oil is to drop to $60 by this time next year. Down to 100 by the end of the year. Bloomberg

Cionád

HashSlinging wrote: »

crude oil is to drop to $60 by this time next year. Down to 100 by the end of the year. Bloomberg

I wouldn't read too much into what the analysts say. Only a couple of months ago they were saying price per barrel could reach $200 by this time next year.

@ MCMLXXXIII, No the petrol stations are not charging extra for credit card transactions. Holiday and travel companies do this a lot though.

Bandara

just to put a downer on things, I own a petrol station and based on the current price data the price of fuel is now scheduled to rise next Wednesday at midnight, across the board.

Expect 2.3 cents on E5 and just over a cent on Derv.

Seth Brundle

Petrol price set for huge cut?
Its a South African article but I presume its referring to a world price drop rather than a local one.
Fingers crossed!

vectra

kbannon wrote: »

Petrol price set for huge cut?
Its a South African article but I presume its referring to a world price drop rather than a local one.
Fingers crossed!

That would be nice :cool:

DJ Hafez

Hammertime wrote: »

just to put a downer on things, I own a petrol station and based on the current price data the price of fuel is now scheduled to rise next Wednesday at midnight, across the board.

Expect 2.3 cents on E5 and just over a cent on Derv.

Why is that? Has fuel not just dropped.... again!

Supercell

I just want diesel to drop below petrol to stop my smug petrol head friends abusing my diesel choice!!

vectra

Supercell wrote: »

I just want diesel to drop below petrol to stop my smug petrol head friends abusing my diesel choice!!

Dont worry about them. You diesel car will still beat their petrol one hands down on MPG which is the important factor :cool:

jhegarty

Hammertime wrote: »

just to put a downer on things, I own a petrol station and based on the current price data the price of fuel is now scheduled to rise next Wednesday at midnight, across the board.

Expect 2.3 cents on E5 and just over a cent on Derv.

crude has been in steady decline for quite a while , why would there be an increase ?

Seth Brundle

jhegarty wrote: »

cruise has been in steady decline for quite a while , why would there be an increase ?

crude?