ChatterBank2 mins ago
Just an observation.
Has anyone else noticed that during all this MP's expenses row, the oil companies have sneaked the price of petrol up to near the �1--0/lt mark. Has the price of crude oil gone up? Or am I being a bit too cynical?
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For more on marking an answer as the "Best Answer", please visit our FAQ.Crude oil has indeed gone up. It has doubled. In December the price per barrel was $32 and today it is $67.
There are fears that high oil prices could hamper the recovery out of recession.
http://www.reuters.com/article/GlobalEnergy09/ idUSTRE55243X20090603
There are fears that high oil prices could hamper the recovery out of recession.
http://www.reuters.com/article/GlobalEnergy09/ idUSTRE55243X20090603
Hmm... all the reading I have done would suggest that the price of crude oil is rising again - its been on a rollercoaster from the highs of around $150/barrel last year to a low of $30/ barrel about 5 months ago.
Since then it has increased to around $60-$65/ barrel, and is projected to go higher, based upon OPEC keeping to their existing output targets, and various investors and speculators essentially betting that the global economy has reached the bottom and is going to come roaring back.
The consequence of all this is petrol prices such as unleaded gradually sneaking back up to around �1 / litre from lows earlier this year of �0.88/Litre just a few months ago.
Since then it has increased to around $60-$65/ barrel, and is projected to go higher, based upon OPEC keeping to their existing output targets, and various investors and speculators essentially betting that the global economy has reached the bottom and is going to come roaring back.
The consequence of all this is petrol prices such as unleaded gradually sneaking back up to around �1 / litre from lows earlier this year of �0.88/Litre just a few months ago.
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