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Just heard on the TV News that todays oil prices have plummeted to around $90 / barrel due to the Share Price crash.

Looking at the comparison graphs - that means Petrol will be at £1.02 and diesel at £1.10 / litre at the pumps tomorrow

Hurrah!   

(How many years ago was it when the country was blockading oil refineries because petrol went up to £0.80 / litre  )

Have a look at this:

On BPs New Zealand website. There are 2.7 NZ$ to £1, which makes it about 59p a litre if my maths is right. This was at a time when oil was about at its highest!

BP decreases the price of diesel

They have been coming down slowly in recent weeks but the price at the pumps has not.  109.9p here still, funny how it went up daily!

Ali

You can track it here.

Ali

Problem is oil is priced in dollars. At start of year pound hit $2.11 and was still over $2 when oil price at it's peak.

Oil price has come down but the pound is now at $1.78 so cost in pounds goes up and we don't see full reduction.

Nope but then once upon a time not that long ago it was $1.40 to the pound but we didn't see fuel come down as it edged above $2 dollars did we!

Ali

At US$ 145 brl peak, and exchange rate US$ 1.99 = GBP 73.00 brl.  Diesel pump price GBP 1.32 / litre

At US$ 90 brl, and exchange rate US$ 1.78 = GBP 50.00 brl. 

If the oil barrons were making their 'needed' profit by charging GBP 1.32 / litre when it cost them GBP 73.00 brl, on pro-rata basis, today's pump price should be around GBP 0.95 / litre

Still GBP 1.23 / litre here

Somebody taking the michael......

Dave