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Oil prices

  • 07-05-2009 1:29pm
    #1
    killerspec
    Closed Accounts Posts: 25 ✭


    I have a question. Based on this website http://www.oil-price.net/ crude oil per barrel is at one of the lowest prices it has been in 5 years. Fair enough the price has gained ground slowly over the past few months but at $57.72 a barrel at the moment it is a third of the price at its peak last year.

    At that point in time we the consumer paid €1.359 a lt ($147.52 a barrel) today in my area the price went back up again to €1.109 ($57.72 a barrel) how is it that we are paying 25c less for a product that is $89.80 cheaper???

    Hope someone can help me out here as I am confused.


Comments

  • #2
    eamonnm79
    Closed Accounts Posts: 459 ✭✭eamonnm79


    killerspec wrote: »
    I have a question. Based on this website http://www.oil-price.net/ crude oil per barrel is at one of the lowest prices it has been in 5 years. Fair enough the price has gained ground slowly over the past few months but at $57.72 a barrel at the moment it is a third of the price at its peak last year.

    At that point in time we the consumer paid €1.359 a lt ($147.52 a barrel) today in my area the price went back up again to €1.109 ($57.72 a barrel) how is it that we are paying 25c less for a product that is $89.80 cheaper???

    Hope someone can help me out here as I am confused.

    The answer partly lies in the fact that we do not put crude oil in to our cars. In other words, there are lots of fixed costs involved in processing the oil into petrol and Diesel. We have also increased the excise by 8 cent per litre in petrol and 5 cent a litre on Diesel.

    I still think we are paying too much but you would have to find a time when it was €1.109 before and take away the tax if you wanted to make a valid comparison.


  • #3
    killerspec
    Closed Accounts Posts: 25 ✭killerspec


    eamonnm79 wrote: »
    The answer partly lies in the fact that we do not put crude oil in to our cars. In other words, there are lots of fixed costs involved in processing the oil into petrol and Diesel. We have also increased the excise by 8 cent per litre in petrol and 5 cent a litre on Diesel.

    I still think we are paying too much but you would have to find a time when it was €1.109 before and take away the tax if you wanted to make a valid comparison.

    Thanks Eamonnm

    Holy hell I found a website that explains the whole fuel thing and oh my god what the hell !!!!! http://www.pumps.ie/pricesExplained.php !!!!! Please dont get me wrong but from what I am seeing here a big part of what is killing this countries economy is the goverment taxes and duties!!!!!! Ok I understand that as a country we are only 4.000.000 + ppl but basically everything in this country and most other countries is driven by import costs and FUEL and of the price at the pumps the goverment is taking 74c holy crap that is way to much.

    Pls dont get me wrong but being in a recession does that not mean that we have to take a step back become more competitive and start to compete with the world market to stimulate our growth????

    AAAAAhhhhh this wrecks my head !!!!!


  • #4
    [Deleted User]
    Posts: 5,589 ✭✭✭ [Deleted User]


    Its still cheaper then a litre of water.


  • #5
    Vyse
    Closed Accounts Posts: 1,400 ✭✭✭Vyse


    Deleted User wrote: »
    Its still cheaper then a litre of water.

    Not for Dunnes own brand water:p


  • #6
    Tabnabs
    Moderators, Recreation & Hobbies Moderators, Sports Moderators Posts: 15,790 Mod ✭✭✭✭Tabnabs


    Deleted User wrote: »
    Its still cheaper then a litre of water.

    Not tap water it ain't.


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  • #7
    100gSoma
    Registered Users, Registered Users 2 Posts: 1,287 ✭✭✭100gSoma


    the price of petrol per litre is still creeping up worryingly in the past few months. even taking the 8cent duty increase into account, petrol has still gone up another 10cent on top of that at a time when oil is at its cheapest in years. the fixed costs have not increased since petrol was 100cent only 8 weeks ago, yet its now 116cent in alot of places. ? ? ? anyone in the industry know why?


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