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 paying1.19 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.