Petrol prices

[Millietant]

I really don't think any of the major oil companies will suffer in the long term - while the price of crude is less than half of what it was, the price of fuel for us has gone down less than 10%.


So who are the ones keeping the missing 40% - oh, that must be oil wholesalers - and well FOC me if they aren't all owned by the oil companies themselves.


Seriously, this is just a springboard to the future £2 a litre fuel cost in Europe. After all the oil companies crying wolf about plunging profits, despite pump prices coming down so much more slowly than crude prices, as soon as the crude price goes back up, you can bet pump prices will fly up immediately.


Don't think the current cheap prices are here to stay, the oil companies are used to playing the long game, and if we're all happy paying £1.20 a litre when oil is $60 a barrel (for a couple months), when it's back up to $120 a barrel our fuel will be over £2 a litre and the oil companies will be creaming it in again for another 10 years. The current situation is a drop in the ocean for these boys and an "investment" in much bigger, longer term, profits for the future.


Remember, when the pump prices go down slowly, but up quickly, there's only ever one winner.


My advice - enjoy it while you can, coz we're all gonna be FOC'd again in the future.