Friday, May 18, 2007

All adds to demands on your hard earnt pennies

Unleaded fuel hits nine month high

Analysts say the price rise is largely due to the gradual rise in the price of crude oil. On Thursday, Brent crude oil gained 3.3%, rising $2 (£1) to an eight-month high of $70.27 a barrel, due to fears that problems at US refineries, where output levels are already low, could constrict petrol supplies.

Posted by afrobaggie @ 05:51 PM (719 views)
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4 thoughts on “All adds to demands on your hard earnt pennies

  • Well, part of the assumption that interest rates only rise once more are that falls in energy prices are sustained. This will rattle the Bank of England, particularly if further disruption occurs during the summer. Very likely, with the hurricane season just beginning (gulf of Mexico vulnerable after a quiet season last year), US problems only just beginning because the low inventories preceed the driving season, so are a sign of things to come, Iran (pressure mounting, re: nuclear dispute), Nigeria (Lots of capacity down through instability), that and calls of peak oil with most countries now experiencing reduced oil output and questions being raised about the massive Saudi Ghwar oil field that the world has relied on for swing production. I’d batten down the hatches!

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  • when does the driving season start in the usa

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  • Ah but don’t worry, ‘cos inflation’s falling.

    Yeah, right.

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  • It’s funny, when petrol price’s dropped considerably last year, talk was that it would help bring inflation back in line. Where i live unleaded is currently 97p a litre (there abouts). Yet not a dickie about the effect on inflation now.

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