Indeed. But it is also true that as a supplier of any product, once you've accustomed your consumer to pay a certain price, there is very little incentive to reduce your price. Road miles covered vs pump prices is a fairly inelastic relationship: if you reduce pump prices, you won't be compensated by many extra miles being driven (especially when the alternatives like rail are prohibitively expensive, or coach, prohibitively slow and impractical). So yes, when oil prices rise, pump prices tend to rise a lot faster than they fall when the oil price falls.
Also the cost of crude is a small part of the price we pay at the pumps for our fuel as the largest part of it, about 60%, is tax.
There are refining costs, transport costs and markups to be taken into account also. A fag packet calculation puts the cost of the crude in a litre of fuel at about 30p.
Because politicians appropriate too much of the nation's privately generated income (the only kind of income there is) and spend it creating work for themselves. 61% of the pump price of petrol is tax and has nothing to do with oil prices.
it's the north south divide.:Angelic: bit early with a banging head ache, but i will think of something more accurate as the day goes by.:smile:
OK. As long as its not the "its all Scottish oil anyway" argument. The needle's worn a hole in that record.
it's not Scotland oil, it's Europe's oil. think of the bigger picture man. we are in this club weather you like it or not. majority rules dude.
Triad warning today - 16.30 - 17.30 Triads are how (TNUoS) charges are distributed between suppliers, who then recover the costs from their customers. Triad charges are proportional to the client’s electricity demand at the three highest national system peaks in any winter (beginning of November to end of February). These peak half-hour periods are known as ‘triad periods’. If organisations reduce demand during these peaks, they will reduce their triad charges proportionally. Triad periods are not known in advance they typically occur between 4.30pm and 6.30pm on weekdays during cold weather.
This now makes sense. This is when we, the normal consumers, pay big business to not use electricity. Similarly when we, the normal consumers, pay David Cameron's father in law for electricity he didn't generate when the wind doesn't blow, or blows too strongly.
