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Fuel Pump Robbery... Oil falls 25% but fuel prices only down 5% |
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Written by Karl
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Saturday, 06 September 2008 21:23 |
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Today oil companies stand accused of cheating motorists out of upto £1.50 a tank after the price of crude oil slumped again on world markets. The cost of crude has now lost more than 25 per cent of its value since July. But in the same period, petrol prices have come down by only five per cent.  The price per barrel of crude peaked at $147 in July and has since been falling, at present the it stands at $104.24. Analysts belive it will fall below the $100 mark over the coming weeks.
A Shell UK spokeswoman said: 'In the UK, selling petrol is an extremely competitive, low-margin business. UK pump prices are the result of a combination of many factors, not just the crude price." With BP reporting record profits... I am not so sure.
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