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Thread: Price of Oil

  1. #1
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    Default Price of Oil

    Just one of those questions that we ask ourselves from time to time but can never get a definitive answer.

    Last year when Oil peaked at $147 a barrel we were paying €1.35 to €1.40 at the pumps.

    Now with the favourable exchange rate of 1 Euro = 1.40 dollars and the cast of your barrel is $69 (love that price 69 !! ) we are paying€1.19 to €1.24 at the pumps.

    The cost of OIL is about 47% what it was this time last year yet we are paying a mere 10 to 15 cent a liter less. Surely it should be a lot less than this.

    Is there a logical explanation for this.

    Or is it the usual one that some greedy fuck is stroking us once again.

    Opinions please......

    Confused Dublin

  2. #2
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    No need to worry about it. Ireland is well on the way to being a superpower & we can start invading and secure our own oil supplies.

    Last edited by nappertandy; 25-06-09 at 13:48. Reason: ran out of petrol

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    Quote Originally Posted by Smarty View Post
    Just one of those questions that we ask ourselves from time to time but can never get a definitive answer.

    Last year when Oil peaked at $147 a barrel we were paying €1.35 to €1.40 at the pumps.

    Now with the favourable exchange rate of 1 Euro = 1.40 dollars and the cast of your barrel is $69 (love that price 69 !! ) we are paying€1.19 to €1.24 at the pumps.

    The cost of OIL is about 47% what it was this time last year yet we are paying a mere 10 to 15 cent a liter less. Surely it should be a lot less than this.

    Is there a logical explanation for this.

    Or is it the usual one that some greedy fuck is stroking us once again.

    Opinions please......

    Confused Dublin
    The worlds worst criminals dont wear chains or stripes or tracksuits or boiler suits or live in caravans.

    They wear nice smart suits have cufflinks are clean shaven live in lovely houses with perfectly manicured gardens and would sell their grandmother for an extra buck. Its easy when you are completely amoral.

  4. #4
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    Default

    Quote Originally Posted by Smarty View Post
    Just one of those questions that we ask ourselves from time to time but can never get a definitive answer.

    Last year when Oil peaked at $147 a barrel we were paying €1.35 to €1.40 at the pumps.

    Now with the favourable exchange rate of 1 Euro = 1.40 dollars and the cast of your barrel is $69 (love that price 69 !! ) we are paying€1.19 to €1.24 at the pumps.

    The cost of OIL is about 47% what it was this time last year yet we are paying a mere 10 to 15 cent a liter less. Surely it should be a lot less than this.

    Is there a logical explanation for this.

    Or is it the usual one that some greedy fuck is stroking us once again.

    Opinions please......

    Confused Dublin


    Taxation is your explanation

    If you take that you pay about 80+ cent a litre in tax then the actual "price of petrol" is the difference between what you pay and the tax. So basically if the Saudis were giving the oil away for nothing you would still be paying 80 odd cent a litre. and don't forget Lenihan stuck 8 more cents on petrol last budget.

    Then there is also the cost of refining etc as well.
    Its the Crips and the Bloods all over again

  5. #5
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    Default Still Rip off Ireland!

    Quote Originally Posted by Smarty View Post
    Just one of those questions that we ask ourselves from time to time but can never get a definitive answer.

    Last year when Oil peaked at $147 a barrel we were paying €1.35 to €1.40 at the pumps.

    Now with the favourable exchange rate of 1 Euro = 1.40 dollars and the cast of your barrel is $69 (love that price 69 !! ) we are paying€1.19 to €1.24 at the pumps.

    The cost of OIL is about 47% what it was this time last year yet we are paying a mere 10 to 15 cent a liter less. Surely it should be a lot less than this.

    Is there a logical explanation for this.

    Or is it the usual one that some greedy fuck is stroking us once again.

    Opinions please......

    Confused Dublin
    I'm a Oil Day Trader and I am also outraged by this,

    Last year Oil peaked at $147 per barrel, I was paying €1.36 per litre, €68 per week to drive to work! not including toll charges, plus €24!

    This year Oil tanked to about $35 per barrel, and the pumps just dropped to 98c per litre and whats worst is it's starting to creep up now to €1.20 per litre, just 16c off its high despite Crude Oil is $77 per barrel of its highs!

    The petrol stations are milking us!!!! and when economy recovers expect over $147 per barrel, then god know what we be paying at the pumps then?!

  6. #6
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    Quote Originally Posted by Stewie View Post
    Taxation is your explanation

    If you take that you pay about 80+ cent a litre in tax then the actual "price of petrol" is the difference between what you pay and the tax. So basically if the Saudis were giving the oil away for nothing you would still be paying 80 odd cent a litre. and don't forget Lenihan stuck 8 more cents on petrol last budget.

    Then there is also the cost of refining etc as well.
    Stewie is that you ???? ??

    While taxation goes some way to explaining the price I don't think that it's a simple as that.
    And I did realise that Lenihan had put 8 cents on Petrol in the budget. Even after the budget increase petrol was still relatively cheap.
    Its only in the last 8 weeks or so that it has started to creep up.
    The Euro has never been stronger against the dollar and as all oil is bought by the dollar the price should be falling not rising in my opinion.
    Last edited by luther; 26-06-09 at 19:18. Reason: Yes Smarty it is who you think it is....Sssssssss....

  7. #7
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    Quote Originally Posted by silo View Post
    I'm a Oil Day Trader and I am also outraged by this,

    Last year Oil peaked at $147 per barrel, I was paying €1.36 per litre, €68 per week to drive to work! not including toll charges, plus €24!

    This year Oil tanked to about $35 per barrel, and the pumps just dropped to 98c per litre and whats worst is it's starting to creep up now to €1.20 per litre, just 16c off its high despite Crude Oil is $77 per barrel of its highs!

    The petrol stations are milking us!!!! and when economy recovers expect over $147 per barrel, then god know what we be paying at the pumps then?!
    Its not the petrol stations i have a mate with a station he is working off a 2% margin on fuel ,its
    the distrubotors or in his case the franchise sets the price

  8. #8
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    Quote Originally Posted by ber View Post
    Its not the petrol stations i have a mate with a station he is working off a 2% margin on fuel ,its
    the distrubotors or in his case the franchise sets the price
    well you got a better source than me then, 2% margin! someones definitely the crooks in that circle, still I think if pertrol crept up to €1.36 a litre in a recession is unreasonable!

  9. #9
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    Quote Originally Posted by nappertandy View Post
    No need to worry about it. Ireland is well on the way to being a superpower & we can start invading and secure our own oil supplies.


    Irish Army goes green

  10. #10
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    Quote Originally Posted by Sarah View Post
    Irish Army goes green
    You'll have to speak louder Sarah, the lads in the irish army are a bit hard of hearing.

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