SV650.org - SV650 & Gladius 650 Forum - Oil Prices dropping $4 dollars a day

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G	16-07-08 03:48 PM

Oil Prices dropping $4 dollars a day

Ok friday last week oil prices were at a record high of $149 a barrel. The price at the pump went up daily when barrel prices rose.

The past few days due mainly to Saudi Arabia the price has been dropping by $4 dollars a day on average.

The current prices is $133 a barrel.

The Question........

How long until the price at the pump starts falling? :rolleyes::smt012

simesb

16-07-08 03:51 PM

Re: Oil Prices dropping $4 dollars a day

Quote:

Originally Posted by G (Post 1570259)

How long until the price at the pump starts falling? :rolleyes::smt012

:laughat: Er, never?

BBadger

16-07-08 03:53 PM

Re: Oil Prices dropping $4 dollars a day

Quote:

Originally Posted by simesb (Post 1570264)

:laughat: Er, never?

wrong.
when i take over the world of course

simesb

16-07-08 03:54 PM

Re: Oil Prices dropping $4 dollars a day

Quote:

Originally Posted by BBadger (Post 1570268)

when i take over the world of course

My mistake! I forgot the apocalypse was coming.... :p

Stu	16-07-08 03:57 PM

Re: Oil Prices dropping $4 dollars a day

But was the $149 factored into the forecourt price? or were they always expecting them to come back again. To be fair the forecourt price didn't double in the past year like the barrel price did.

muffles

16-07-08 04:01 PM

Re: Oil Prices dropping $4 dollars a day

Quote:

Originally Posted by Stu (Post 1570275)

But was the $149 factored into the forecourt price? or were they always expecting them to come back again. To be fair the forecourt price didn't double in the past year like the barrel price did.

But did the price excluding tax double?

rob13

16-07-08 04:06 PM

Re: Oil Prices dropping $4 dollars a day

Quote:

Originally Posted by muffles (Post 1570286)

But did the price excluding tax double?

Dont think it was far off. Something like 50p for manufacturing costs now? Take 25p off and you have 90ish p per litre.

Stu	16-07-08 04:08 PM

Re: Oil Prices dropping $4 dollars a day

Well the VAT is a function of the price & I don't think tax ever came down - they just kept putting off tax increases which we were supposed to be grateful for :roll:

muffles

16-07-08 04:16 PM

Re: Oil Prices dropping $4 dollars a day

Quote:

Originally Posted by Stu (Post 1570294)

Well the VAT is a function of the price & I don't think tax ever came down - they just kept putting off tax increases which we were supposed to be grateful for :roll:

Yeah the VAT is related to the price but I believe the fuel duty isn't - it's a fixed number of pence per litre. I think you got what I was saying anyway, but essentially if the price of oil doubles, the duty cushions us from its impact. Similarly it will cushion the impact of falls to us though :(

I think fuel duty is around 50p/litre at the moment so a fair chunk.

gettin2dizzy

16-07-08 05:30 PM

Re: Oil Prices dropping $4 dollars a day

I think it's about 3 months. So we're *yet* to feel the spike of the last prices...

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