£ is creepin.
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Paradoxally it is also making our petrol more expensive :shock:
Oil is traded in dollars only (petro dollars), so when dollar slips it has the effect of making it more expensive for us as the value of each dollar is less, the price per barrel of oil goes up :roll:
Swings and roundabouts
Oil is traded in dollars only (petro dollars), so when dollar slips it has the effect of making it more expensive for us as the value of each dollar is less, the price per barrel of oil goes up :roll:
Swings and roundabouts
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yep , great news as i have paid 2/3 of my mortgage in euros , so the more the £ goes up , the more euros i can buy every month .
Easy_Rider":1dsbczz4 said:Paradoxally it is also making our petrol more expensive :shock:
Oil is traded in dollars only (petro dollars), so when dollar slips it has the effect of making it more expensive for us as the value of each dollar is less, the price per barrel of oil goes up :roll:
Swings and roundabouts
Eh?
If the pound is now buying more dollars than 6 months ago then petrol will be cheaper. But most of what we pay is tax.
However, the high level of tax on fuel makes prices relatively stable and as a result we don't get the overnight doubling that Americans saw - which hit their economy hard.
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hamster":2wrqvw1n said:Easy_Rider":2wrqvw1n said:Paradoxally it is also making our petrol more expensive :shock:
Oil is traded in dollars only (petro dollars), so when dollar slips it has the effect of making it more expensive for us as the value of each dollar is less, the price per barrel of oil goes up :roll:
Swings and roundabouts
Eh?
If the pound is now buying more dollars than 6 months ago then petrol will be cheaper. But most of what we pay is tax.
However, the high level of tax on fuel makes prices relatively stable and as a result we don't get the overnight doubling that Americans saw - which hit their economy hard.
Told you it's not easy. You have to see the reason behind something, and its not the pound rising, it is the dollar falling against all other currencies, what is rising or falling is important. Below two graphs from the bbc business market data over the last month shows you what i mean.Have you not noticed petrol creeping from 90p to 1pound over the last couple of months, granted 2p of that was a tax hike.
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Exactly, more dollars bught with the pound(1.65 now, was 1.4)...
But the price of oil is going up (in $) as OPEC have been cutting production. Also, as we go into the summer, there are planned maintenance windows etc in refining which takes capacity down a bit, ready for the northern hemisphere winter when demand rises again.
But the price of oil is going up (in $) as OPEC have been cutting production. Also, as we go into the summer, there are planned maintenance windows etc in refining which takes capacity down a bit, ready for the northern hemisphere winter when demand rises again.
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dyna-ti":jrap86sl said:cchris2lou":jrap86sl said:
Very canny of you Chris
Do you have any Scots blood in you?
nope , I have Auvergnat blood , and they are worse than scots when it comes to money .
