Petrol litre prices used to match the price per barrel of oil.
So if a barrel was 60USD then the pump price was about 65p per litre.
When it went up to 125 USD then the price was 120 p per litre.
Today it's under 32 USD per barrel and still at 99-104 p per litre.
So either it's due to taxation, the oil companies ripping us off, or both!!
Expectations is for Oil to go to 10 USD a barrel. that will leave a litre of oil at 95p!!!
159 litres - 279 litres in a barrel of oil = so 159-280 pounds per barrel. In Saudi the cost to get a barrel out of the ground is 22 STG approx.
What does this mean?
1. A war in the Middle East to stem the fall and create a shortage.
2, The house of Saud collapses, as the economy collapses
3. Ultimately, the petrol price will rise faster from a very high level. On a recovery expect about 2 STG per litre for sure.
4. If this happens, alternative energy will start to rule and the oil companies will lose their huge revenue base.
What will we see?
So if a barrel was 60USD then the pump price was about 65p per litre.
When it went up to 125 USD then the price was 120 p per litre.
Today it's under 32 USD per barrel and still at 99-104 p per litre.
So either it's due to taxation, the oil companies ripping us off, or both!!
Expectations is for Oil to go to 10 USD a barrel. that will leave a litre of oil at 95p!!!
159 litres - 279 litres in a barrel of oil = so 159-280 pounds per barrel. In Saudi the cost to get a barrel out of the ground is 22 STG approx.
What does this mean?
1. A war in the Middle East to stem the fall and create a shortage.
2, The house of Saud collapses, as the economy collapses
3. Ultimately, the petrol price will rise faster from a very high level. On a recovery expect about 2 STG per litre for sure.
4. If this happens, alternative energy will start to rule and the oil companies will lose their huge revenue base.
What will we see?
- Cars running on hydrogen
- Cars in India can already run on compressed air
- Of course electric cars becoming more efficient and can drive more than 200 miles, before needing a charge
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