Price of Oil

[Smarty]

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

[nappertandy]

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.

[Sarah]

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

[carlos marvado]

Irish Army goes green

You'll have to speak louder Sarah, the lads in the irish army are a bit hard of hearing.

[Sarah]

You'll have to speak louder Sarah, the lads in the irish army are a bit hard of hearing.

We ladies do not mind deaf soldier,we just love them well armed

[carlos marvado]

We ladies do not mind deaf soldier,we just love them well armed

No Sarah, the Irish soldiers are very much alive, it's just that they're all stone deaf because the Department of Defence did'nt provide them with earmuffs when they were shooting off their little guns. Problem is, if somebody ever invades us, our troops will never hear the enemy sneaking up on them....which is just as well, because if any of the lads actually got injured resisting capture, the compensation claims would leave the state rightly f***ed.

[da burka boyz]

We ladies do not mind deaf soldier,we just love them well armed

den u will luv uz sexy infidel sarah. we r armed to da teeth n today iz glorius day for uz. today we nuke those imperialist swines across road at iie from our mobile launchpad. we just need to get mule to turn around n point right way and

KABOOOM!!!!! no more jake

[Banned User]

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.

[Stewie]

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.

[Smarty]

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.