Petrol prices are coming down

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Petrol prices have been on the increase for a very long time now contributing to the squeeze families up and down the country feel on their finances. But now and again a so-called petrol war breaks out slashing prices at the pump and the consumer is left wondering if the high prices at the pumps are really down to the hike in price of crude oil, or if it’s just the petrol companies making money out of the poor car owners. Because we surely have to assume that these forecourts aren’t slashing their prices so low that they’re not making any money?

It’s often the supermarkets who slash the petrol prices the most with the likes of Tesco, Sainsbury’s and Asda offering lower prices at the pumps as well as handing out petrol vouchers with your grocery shopping. Often you will find that the supermarkets sell petrol and diesel for about 5p per litre less than the big oil companies so you have to question whether the big oil companies are squeezing the consumers.

Now, in August 2011, the world’s financial markets are in turmoil which has hit the price of crude oil making the prices plummet. This has yet to be reflected in the prices on the forecourts. The price of crude oil in August 2011 is around $85 while back in May it was $115. The average cost of filling up a car is currently £68.20 but that would be if you drove something like a Mitsubishi, London. People in rural areas often pay much more. So far the prices on the forecourts haven’t reflected this drop and motoring organisations such as the AA and the Road Haulage Association are demanding lower prices soon. Maybe the war currently fought between the supermarkets will lead to a lowering of fuel prices across the board.

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Amy Sawyer has 83 articles online

Amy Sawyer is an online marketing executive currently researching Mitsubishi London.

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Petrol prices are coming down

This article was published on 2011/08/22