West Texas Intermediate futures for May sunk beneath $15 a barrel, dropping by more than a fifth to hit their lowest price since 1999, before recovering slightly. Brent crude, and WTI measures for further months, slipped less dramatically. It was $60 in January. Anyone been out recently to see what it is at the pumps now?
Price drops are always welcomed by consumers .... ..... but scratch the surface a little . When price at the pumps goes down , it is always by a smaller percentage than the drop in crude oil price , and it lags behind it . But when crude prices rise .... well , you know the story .... The oil industry has a magic word that "explains" this .... inventory .... "same as it ever was " PS - banks and building societies pull exactly the same strokes when base rates change
Refiners used to love the annual fuel tax escalator, storage tanks were brimming the day before the tax hike and it was all miraculously sold for the higher price the next day
you can bring your car in for a service if you like. i'm doiing nothing. i bet it needs a new t.belt kit too.
