Petrol prices on the rise

[karatekid]

Oil is currently around $80 a barrel but it is expected to reach $100 a barrel by the end of the year which could see petrol reach £1.44 a litre .

[Quickenthetempo]

Turtle will be on in a minute to blame Donald Trump.

[karatekid]

RAC spokesperson Simon Williams explains the rising price of oil is largely to do with tensions in the middle east:“The oil price has increased by $30 a barrel since last July as a result of OPEC (the Organisation of the Petroleum Exporting Countries) and Russia limiting production to reduce an oversupplied market."

"On top of this we now have the United States’ decision to re-impose economic sanctions on Iran which is the third biggest oil producer in OPEC."

"This will tighten supply even further and cause the barrel price to go up even more."



Maybe it is Donald Trumps fault after all.

[Chobulous]

Turtle will be on in a minute to blame Donald Trump.

RAC spokesperson Simon Williams explains the rising price of oil is largely to do with tensions in the middle east:“The oil price has increased by $30 a barrel since last July as a result of OPEC (the Organisation of the Petroleum Exporting Countries) and Russia limiting production to reduce an oversupplied market."

"On top of this we now have the United States’ decision to re-impose economic sanctions on Iran which is the third biggest oil producer in OPEC."

"This will tighten supply even further and cause the barrel price to go up even more."



Maybe it is Donald Trumps fault after all.

It's Brexit at fault. Either that or Neil Warnock.

[GodIsADeeJay81]

Prices will rise at a far greater rate then they'll drop.
Also, it's a fair assumption that like airlines, other companies will negotiate deals in advance of purchasing so the actual price increase won't be an issue immediately but they'll push the prices up now anyway.

[bfccrazy]

Prices will rise at a far greater rate then they'll drop.
Also, it's a fair assumption that like airlines, other companies will negotiate deals in advance of purchasing so the actual price increase won't be an issue immediately but they'll push the prices up now anyway.

If only there was some sort of group that would terrorise people and that would sell oil cheap and illegally to fund their barbaric ways and drive down the cost for everyone for a bit and make them happy .......

[Vegas Claret]

I blame John McGinley the cheating ****

[Dazzler]

All the Middle East oil fields were in the main,
Discovered and built by western expertise.

We should take back control.

[IanMcL]

Scotland will be rich again!

[Top Claret]

Scotland will be rich again!

Lets hope they can start paying there way and stop relying on the English tax payers handouts

[IanMcL]

Lets hope they can start paying there way and stop relying on the English tax payers handouts

A very ignorant and incorrect statement.

[CaptJohn]

I doubt that oil will reach $100/barrel due to the ability of the US shale producers to respond quickly to oil price increases and thus make up any shortfalls from the Iran embargo. There are thousands of completed wells in the US that are on hold until prices rise. This should keep oil prices in the $70-$80 range. (For the record I had a modest punt on a US shale producer six months back and am now sitting on 30+% gains )

[Rowls]

Expect a recession in the coming years.

At least the UK paid off all that debt it accrued in the last recession.

Oh ... hang on a minute ....