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Just noticed this, and am trying to figure out if it is my imagination or not.
I am sure a couple of weeks ago Diesel was 94.9p it is now 96.9p per litre.
can anyone confirm that fuel prices are going up or have i imagined this?
£ has gone down against $, oil is priced in $. Work the rest out for yourself 😉
Oil is priced is dollars, so as the £ falls against the $, fuel prices will go up.
Also a number of Oil traders have been buying up oil and storing in hired oil tankers. This will start to have an effect on supply/demand over the next few weeks......when the price is rising significantly higher guess who is going to 'make a killing'
94.9p? Where do you live? Never been that cheap around here (well not for a couple of years).
Yeah, I filled up (well put £20 in!) on Friday and noticed unleaded had gone up from 82.9 to 86.9.
It will be over a pound by spring. Best start stockpiling!
I know about the exchange rate bit, but the oil price has come down a long way recently. haven't looked at the detail of the price drop though and compared it to the exchange rate increase.
that'll be something else to help inflation...
Cheltenham has recently had some of the cheapest fuel prices in the UK, i haven't got a clue why though.
Dunno I only fill my diesel car up about once a month so I don't pay attention to prices, and my wife fills the petrol one up since I don't really use eaither car very often.
a number of Oil traders have been buying up oil and storing in hired oil tankers
ooh you slay me!
I'm fairly sure that the oil price has still been falling faster than the exchange rate, so that's not all there is to it (why on earth can't the news quote oil price in £ - that might not be what it's traded in, but it's the important figure for us). Notably the gap between UL and diesel has closed, with the former increasing in price rather more (I'm guessing it's simply not being discounted as much as it was).
I'm fairly sure that the oil price has still been falling faster than the exchange rate, so that's not all there is to it
Yeah the $/£ rate has shifted by about 25% but the oil price has dropped by 66%-ish
I thought there was a delayed duty increase that came into force recently....was due ages ago but coincided with record highs for oil prices..so was put on hold. Govt could have slipped it in on a manic news day ie Obama's housemove? Ring any bells....or did I dream it all?