Off-Topic Petrol price to rise due to Syrian conflict

Discussion in 'Off-Topic Chat' started by Ichiban, Saturday 31st Aug, 2013.

  1. Ichiban Founder Staff Team

    England CJ Leeds
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    Should I bother to fill the jerrycans up with cheaper fuel, no doubt the oil barons will be rubbing their hands to use this as an excuse to increase prices.:Blink:
     
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  2. Doc Expert Advisor ★ ★ ★ ★ ★

    Matt Peterborough
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    Well the conflict has been going on for 2 years now, I think if it was going to have an effect it would have already happened by now!

    They don't produce much oil anyway do they?
     
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  3. Primarycare Expert Advisor ★ ★ ★ ★ ★

    United Kingdom Primary c Northampton
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    No they don't produce much in the way of oil but all adds to the instability in the region so I'm sure CJ is correct and prices will rise :-( again!
     
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  4. Chunkylover53 Expert Advisor ★ ★ ★ ★ ★

    Doubt it will hit the 150 dollar a barrel that we witnessed a few years ago though. I also doubt the price will go past 145 for the next 6 months at least.
     
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  5. steve4536 Senior Member ★ ★ ☆ ☆ ☆

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    Just thought I would revive this thread. Who would have thought the price of fuel would drop to this current level and is even expected to go further down. My local garage has 95 petrol going for 109.9 per litre.
    Long may it continue.
     
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    Ichiban likes this.
  6. Ichiban Founder Staff Team

    England CJ Leeds
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    We are expecting the supermarkets to drop the cost a further 2p soon , wouldn't it be nice for it to hover around a pound!
     
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  7. Superman001 Senior Member ★ ★ ☆ ☆ ☆

    United Kingdom James Paisley
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    That would be nice :Smile:
     
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  8. AndyB1976 Valued Contributor ★ ★ ★ ★ ☆

    United Kingdom Andy Aberfoyle
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    After kowtowing to so many rouge oil producing nations for many a decade, some expertise in engineering has released an abundance of shale gas flooding the market with an alternative fuel source, creating a price war of sorts and reigning in OPEC.

    Although there are huge questions about the environmental impact, it seems that it provides the West with huge political and economical leverage not only against OPEC but Russia and Latin American countries without being accused as the protagonist of war.
     
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  9. steve4536 Senior Member ★ ★ ☆ ☆ ☆

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    Generally speaking, I have a budget for fuel, I just get more for my money and end up putting less in. I think this counts for the majority of people. I'm just waiting for the green lobby to start screaming that we are going to increase global warming by having cheaper fuel.
    Hover around the pound an stay there would great.
     
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  10. Duc de Pommfrit Moderator Staff Team

    United Kingdom Chester Northumberland
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    Just in time for you to go hybrid!
     
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  11. steve4536 Senior Member ★ ★ ☆ ☆ ☆

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    Not really interested in Hybrid at the moment. :nea:Give me the good old fashioned motion lotion any day.
     
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  12. SpeedyGee Administrator Staff Team

    England Speedy Birmingham
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    LPG 46p/litre at the moment :taunt::Happy:
     
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  13. Ichiban Founder Staff Team

    England CJ Leeds
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    It makes more sense with petrol prices dropping and for business users it makes better sense than diesel.
     
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    Nighthawk likes this.
  14. Nighthawk Guest

    United Kingdom Richard Milton Keynes
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    Someone please enlighten me - I don't understand why the issues overseas are actually resulting in lower prices. I don't get involved in politics and don't understand why it has affected our fuel prices. Anyone care to explain in simplistic terms that I can understand?
     
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  15. Chunkylover53 Expert Advisor ★ ★ ★ ★ ★

    I'm not big on politics either but this is how I see it. High oil prices made other countries like the USA to start drilling for higher extraction cost crude oil, since then Iraq has started to produce more oil as the overall conflict is reducing. Same goes for Libya. On top of that China's growing at a slower pace (and slowly becoming more efficient). I think it started falling in September which resulted in an OPEC meeting in Nov where the largest producer Saudi said that they would not restrict their oil supply as it would mean that they would lose market share. Due to OPECs decision Russia and Venezuela are in real trouble too! Citi analysts predicted this last year but a large number of hedge funds have made huge losses this year due to this fall in oil price but I digress.

    Petrol prices could be lower but oil companies buy it months in advance so I wouldn't be suprised if they're still refining 110 dollar a barrel oil. Plus we have that tax farce but there's no point talking about that.
     
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  16. FirstHonda Premium Member Club Supporter

    Agree with @Chunkylover53.

    Prices have fallen as instability 5-10 ago in the Middle East, which led to restricted supply and higher prices, led to a) increased supply from elsewhere, especially the US and b) more resources spent on finding new supplies.

    The increased production out of Libya and Iraq in the past 24 months, along with a reduction in the influence of OPEC to restrict supply from Saudi (and other members) has only helped to further reduce prices, as supply now outstrips demand and there are stockpiles available worldwide.

    We should also remember that over the last 25 years (or more) the world has become less reliant (when taken in perspective) on oil.
     
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  17. AndyB1976 Valued Contributor ★ ★ ★ ★ ☆

    United Kingdom Andy Aberfoyle
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  18. Chunkylover53 Expert Advisor ★ ★ ★ ★ ★

    Saw that earlier, I think the offers been extended to three of his garages. Hopefully some of the multinationals will take note.

    Got this from the article "
    'People travel as far as 20 miles just for my petrol prices. " - To save 10p per litre is it really worth it!
     
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  19. Ichiban Founder Staff Team

    England CJ Leeds
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    For company drivers the miles don't matter they can offset it quite easily :Wink:
     
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    Chunkylover53 likes this.
  20. exec Premium Member Club Supporter