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Monday 13th October 2008 Make us your HOME PAGE  What is RSS?

EXPRESS COMMENT

MAKE OIL GIANTS EXPLAIN MYSTERY OF PETROL PRICES

Friday June 6,2008

THE old adage that what goes up must come down does not appear to apply to fuel prices.

Despite a significant fall in the world oil price over the past couple of weeks, the price of diesel and petrol has continued to rise remorselessly on garage forecourts.

This is one aspect of the great fuel price rip-off that cannot be laid at the door of the tax policies of Gordon Brown. It is the massively profitable oil companies which have some explaining to do.

They seem to pass on any rise in oil prices very quickly to motorists yet, when world crude prices fall, a time lag comes into play. Drivers can be forced to wait weeks or even months before their fuel comes down in price.

There is no direct evidence of collusion between the giant fuel suppliers. That would be illegal. But neither is there much evidence that worries about losing market share spur them into bringing prices down.

As in many parts of the British economy, there is a lack of real competition. It is an all too familiar story of an industry being run for the benefit of big business on the one hand and big government on the other.

The little people called consumers seldom get a look in. The chief focus of their anger is Mr Brown.

But much more dragging their feet on price cuts and the big oil companies will find themselves charged alongside him in the court of public opinion.


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I AM OIL RIGHT JACK.

09.06.08, 11:33am

Some years back the Media worthies were fond of blaming the nasty workers and Unions for being greedy and getting to much of the Financial Cake. Perhaps some worthy journalist could explain to us Numpties that it is the Speculators who are driving up the Casino figures and betting that the Oil Price will reach $150 per barrell.
And some twits are even saying it might reach $200 by 2009. The Hedge Fund merchants seems to be uncontrolable.They can not be left to destablise the world economy.
Broon took the Credit for Ten Years of the Good times. He has so far shown no sign that he can control the British Stock market.
If he is unwilling to try perhaps Alec Salmonds should press for control of Scotlands Energy sources. Alec
and John Sweeny seem more capable Economists than Broon and his Darling.

• Posted by: EdwardReport Comment

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