Tim in Scotland wrote:

It's crazy as the £ is at it's highest against the dollar for nearly 15 years................................ the price of oil should be going DOWN. It's all those hedge fund guys manipulating the market

Tim, the dollar has weakened about 20% ($1.75 to $2.10) whilst the price of a barrel of Brent Crude has risen by about 60% (from $62 to $100). "Luckily" for us Brits, only about 40% of the price we pay at the pump is for the actual fuel itself (the rest is tax, which went up a few P recently), so hence the actual price rise at the pump is "only" about 16ppl.

The hedge fund guys don't "manipulate the market", they just place bets on which way the price is going to go. And most have been betting the price is going to go up. That ain't rocket science, as it nearly always goes up when the Northern Hemi approaches winter (demand rises). The added influence of most of the current oil supply coming from unstable locations and India & China demanding more and more to fuel their growing industry and consumer demand is to create an excess of demand over supply. To cause demand to fall prices must rise (its called a market), and as demand for oil is quite inelastic in the short term (ie people don't quickly reduce consumption in the face of increasing prices - they just grumble more), the amount the oil price rises is rather large.



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shmoogle wrote:

I saw £1.08 yesterday - a disgrace

Totally agree, i had to pay $1.40 the weekend for a liter, hmm thats about 60P.. and yet in OZ the locals see it as still very expensive as they are not dependent on oil imports and cost of living is about 2/3 of the UK. The Fuel companies out here have it easy, the price goes up Thursday to Monday legitimately with the governments support typically 10 cents a litre, and then goes down until mid week... the oil companies can shaft you with full govt support  Another Pommie Bar Steward down under

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I saw 111p today near Petworth and 109p in Pulborough  Porsche Cayenne S Diesel 66 Plate

So I'm moving to where the fuel is silly cost... nice

I usually fill up at the Total on the A3 just south of Hindhead and that's £1.04 at the moment (for petrol). 

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I bought diesel at the Gaydon service station yesterday for £1.029 a litre - it was £1.089 a litre 10 miles futher down the M40, so not only did I get a very nice cheap lunch and gave some money to a worthwhile cause by stopping there instead of Warwick or any other motorway service area I got a cheaper fill up as well! Will endeavour to get that far on Sunday on my way north on what is left in the tank by morning coffee/lunch time and get another cheap tank full of Diesel into the bargain!

P and S I drove along through Pulborough when travelling between Cuckfield and Southampton yesterday, you can rest assured that that price is pretty well the same all along the A272,A29 and A27 2020 Pangea Green 1st Edition D240 New Defender 110 is here and loving it
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Where you moving to S? Most fuel here is 105 ish, with Shell being cheapest and available at 103 Porsche Cayenne S Diesel 66 Plate

Petworth mate, even closer to you which is a worry  

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I'm not sure it would ever get to the new house though.... they'd probably drop off at various campsites along the way and sell most of it. 

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