Falling Oil Prices

[Stu]

I see that oil prices have fell yet again and this is being passed on to the pump prices.

This is great at the moment, but will it last over the next couple of years. I have heard we have found new oil reserves in the North Sea and better ways to detect it. All sounds good, but will it take into account that OPEC ( Organisation of Petroleum Exporting Countries) has announced they will be producing less oil i the future. Producing less oil is a good way to drive the prices up, but has a negative effect of making countries use and buy less.

There is a big OPEC meeting next week to discuss this matter and some not all of the countries are in agreement with the idea. Not all of the OPEC countries can afford to sell less oil and a division can only be a good thing for the rest of us.

In the long term it is hard to say what oil prices will do, but several experts predict it will go down further and cause a reduction in other linked energy prices. Regarding gas and electricity we can expect slight rises before and fall, due to the fact they usually lag behind by several months. A license to print money I reckon!

Regards

[CookBoy]

Didn't feel any better today when I put £50 in the car and it wasn't totally full.

[achris83]

I started getting the bus to work, its quicker in the rush hour and i got an anual ticket for less than 3 tanks of petrol...

[Sarah H]

Great idea using the bus. I find it's cheaper going by bus mainly because of the cost of parking and lucky for us there is a bus stop 50 metres from our house.

[sheffy]

We use the bus to go into town. They are every 7 minutes and bus lanes mean they are fast. They change the traffic lights from red to green as they go!

[Stu]

We use the bus to go into town. They are every 7 minutes and bus lanes mean they are fast. They change the traffic lights from red to green as they go!

Buses are not so good in the New Forest, unless you are going into Southampton. I would use my bike more but it's usually rubbish weather at this time of year.

[sheffy]

It sounds as if petrol will go back up again soon, anyway.

[the _sauce]

Didn't feel any better today when I put £50 in the car and it wasn't totally full.

I filled a car up the other week using the 'pay at pump' machines
at Asda - there was a £70 limit on the spend - And I reached it and was
shut off before I could completely fill the car up

[CookBoy]

£70! What car are you driving?

It's bad enough when I spend £50 - £55, but I would be in tears if I had to put in as much you the_sauce.

[the _sauce]

£70! What car are you driving?

It's bad enough when I spend £50 - £55, but I would be in tears if I had to put in as much you the_sauce.

Mondeo estate - they have large fuel tanks - about 15 gallons
and about an 800 mile range - and it's diesel

[Sarah H]

I filled up yesterday and petrol at ASDA was down to 95.8 pence per litre. I didn't think we would see it below £1 again.