Price of oil driven lower

kluivert

:eek:

OPEC have decide to cut production of oil from 1 November but this has lead to a $5 drop in the price of oil today.

While this drop should make motoring cheaper, such an adverse drop really does reflect the bad state of affairs we are all in from an economic point.

Anyway I welcome the drop in fuel prices. But not the economic state.

http://www.irishtimes.com/newspaper/breaking/2008/1024/breaking35.htm

redman

Pity the price at the pumps hasn't reflected the price it was when barrels were last at $63 dollard!

Stephen

The euro has weakened dramatically against the dollar (dropped as far as $1.25 today), which will negate much of the effect of any cut in the price of oil. UK pound dropped to $1.52 or so after being at $2.00 for ages too!

Berty

Last week I remarked about OPEC and their dirty plans for fuel prices.

The price of a barrell came down but OPEC producers were not happy about this and said it the price fell any further they would reduce production causing the demand to be sharper pushing prices back up.

Prices are actually going to rise due to an imminent price hike.

jhegarty

quirke_folder wrote: »

Last week I remarked about OPEC and their dirty plans for fuel prices.

The price of a barrell came down but OPEC producers were not happy about this and said it the price fell any further they would reduce production causing the demand to be sharper pushing prices back up.

Prices are actually going to rise due to an imminent price hike.

They accounted the cut today, and the price fell after that....


People can smell the blood in the water....

Berty

Someone has to pay for that Indoor Ski hall in Dubai!!

Bandara

Fuel companies are struggling vey badly and are trying to bring the price back up apparently.

ciarsd

It's 115.9 for diesel and petrol in Esso, Maynooth... was 118.9 for both last night and 120.9 last week.

Which leads me to a question... how come fuel is nearly always rounded to .9c per litre?

Years ago it could range from .1 to .9c - not always IRL£**.9c or €***.9c

L1011

Applegreen use .8; but .9 is a common mental trick to prevent you thinking its higher. Doesn't work, I'd always refer to 118.9 as "119" though. I've seen .5 down the sticks too....

I presume you mean Tesco as we've no Texaco in Maynooth?

ciarsd

MYOB wrote: »

Applegreen use .8; but .9 is a common mental trick to prevent you thinking its higher. Doesn't work, I'd always refer to 118.9 as "119" though. I've seen .5 down the sticks too....

Yeah me too.. always round it up and then purchase by the litre!

MYOB wrote:

I presume you mean Tesco as we've no Texaco in Maynooth?

Whoops - been a long day! I meant Esso - just amended my post - cheers!