Fuel Prices

[Ray Scully]

With wholesale oil at $87 a barrel, the same as in 2010; how soon can we expect pump prices to drop the 15-20p to match 2010 prices?

Ray

[david63]

Probably when hell freezes over

[Ray Scully]

Probably when hell freezes over

So soon

[Stephen]

The same as winning the lottery jackpot.

[Silver_Shiney]

There's a city-centre filliing station that is now cheaper than Tesco!

[david63]

There's a city-centre filliing station that is now cheaper than Tesco!

What even with 20p a litre off?

[Silver_Shiney]

Well, only if you're entitled to it!

[Mervyn and Trish]

I note that when gas and electricity companies were hiking prices they claimed it was because the cost of these commodities was linked to the rising price of oil, so I expect they'll be coming down soon as well. That will be nice for the winter.

[david63]

I think that one thing we overlook is that with all fuel "commodities" these are bought on the futures market and it can take time for the lower prices to filter down, by which time other costs have risen so we are back to square one - that does of course presume that the energy companies are being "upfront" about everything.

[Mervyn and Trish]

I think that one thing we overlook is that with all fuel "commodities" these are bought on the futures market and it can take time for the lower prices to filter down, by which time other costs have risen so we are back to square one - that does of course presume that the energy companies are being "upfront" about everything.

You can say that again!

Why does it never take time for rising prices to filter down?

[towny44]

I think that one thing we overlook is that with all fuel "commodities" these are bought on the futures market and it can take time for the lower prices to filter down, by which time other costs have risen so we are back to square one - that does of course presume that the energy companies are being "upfront" about everything.

You can say that again!

Why does it never take time for rising prices to filter down?

Merv, Prices have been falling all year, I have switched fixed price deals 4 times since April, staying with the same big 6 provider, all at no change penalty, and my price is now 15% lower. But you have to put in the effort, they aren't going to come knocking on your door offering lower tarrifs, you have to search the web.

[Mervyn and Trish]

I think that one thing we overlook is that with all fuel "commodities" these are bought on the futures market and it can take time for the lower prices to filter down, by which time other costs have risen so we are back to square one - that does of course presume that the energy companies are being "upfront" about everything.

You can say that again!

Why does it never take time for rising prices to filter down?

Merv, Prices have been falling all year, I have switched fixed price deals 4 times since April, staying with the same big 6 provider, all at no change penalty, and my price is now 15% lower. But you have to put in the effort, they aren't going to come knocking on your door offering lower tarrifs, you have to search the web.

Sadly I can't escape my fixed deal without penalty for a few months yet.

[Silver_Shiney]

Apparently they are not allowed to charge the penalty within the last 42 days of the period.

[Mervyn and Trish]

I've double checked and found I can't significantly improve my deal, though I have been able to trim a little off the direct debit with my own supplier. The price hasn't gone down but by switching tariff they've given me back some money they owed me.

I ought to be able to do better by now with falling oil prices. I think Mr Milliband has stuffed the consumers on this one by declaring his plan for a fuel price freeze if he gets in next year. They're all keeping prices high so they don't get trapped with a low price later. Own goal I'm afraid.