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Petrol Prices Breaking Records?
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In the news it says £2.50 petrol and diesel £3.00. I’ve seen 1.70.
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//Pure profiteering by the Arabs.//
The Arabs are not the only oil producers. The price is set by the wholesale price on the market. OK OPEC has some control over that but not as much as you think. It's simple supply and demand. Short on supply, price goes up. We have cut Russian oil therefore there is a world shortage. In the short term prices will go up.
The Arabs are not the only oil producers. The price is set by the wholesale price on the market. OK OPEC has some control over that but not as much as you think. It's simple supply and demand. Short on supply, price goes up. We have cut Russian oil therefore there is a world shortage. In the short term prices will go up.
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