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Thread: Crude Prices

  1. #1
    Caesium's Avatar
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    Crude Prices

    Crude oil has fallen to $50 per barrel, so OPEC have decreased production to try and increase the price.
    Have we been charged less at the pumps?

    http://www.stuff.co.nz/4797524a13.html


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    Well I've seen diesel prices drop from almost 1.30 a litre to 97.9p so yes I think we are being charged less at the pumps.

    Remember that the bulk of the price is tax anyway so a 60% drop in crude doesn't equate to a 60% drop at the pump.

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    My old man is a marine enigineer and knows a LOT on the subject and all he has said is that they've been milking us for years - simple. He also thinks that the recent price drops are not purely a case of the drop in production - more to do with 'pressure' from the top to stop being so fecking greedy!

    And also from me - a noob - why is it suddenly more expensive to produce diesel when mass diesel car production is more common?

    It seems to me that they'll get you either way?

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    Quote Originally Posted by Neilybabs View Post
    And also from me - a noob - why is it suddenly more expensive to produce diesel when mass diesel car production is more common?
    From what I understand, when all the European governments were pushing everyone to buy Diesel cars in the late 90s/early 00s, as they were supposedly 'greener', and people took notice, someone forgot to increase the Diesel refining capacity.

    Thus, Diesel is in more demand than petrol, so commands a higher price.

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    Quote Originally Posted by Macduff View Post
    Well I've seen diesel prices drop from almost 1.30 a litre to 97.9p so yes I think we are being charged less at the pumps.

    Remember that the bulk of the price is tax anyway so a 60% drop in crude doesn't equate to a 60% drop at the pump.
    Yes but the tax is charged as a percentage of the total cost, not as an amount. The raw cost comes down so the tax also should come down.

    Quote Originally Posted by alijames View Post
    From what I understand, when all the European governments were pushing everyone to buy Diesel cars in the late 90s/early 00s, as they were supposedly 'greener', and people took notice, someone forgot to increase the Diesel refining capacity.

    Thus, Diesel is in more demand than petrol, so commands a higher price.

    Cheers,
    Diesel and Petrol are refined in the same way, it just petrol is higher up the catalytic cracker than diesel.
    Diesel has always been widely used so thats not an excuse from the oil companes.
    Marine engines and commercial vehicles both use enormous amounts of diesel, the domestic diesel engine probably only makes up a tiny increase, Especialy when you look at the huge ships that use diesel by the ton.
    Chris

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