Have you noticed how expensive petrol is these days? It now costs over €100 to fill up an average family car. In Ussher’s Quay the other day, there was a tailback of cars because a petrol station decided to offer a cut-price deal on petrol.
Why is the price of fuel going up?
Lots of media coverage is focusing on the Straits of Hormuz and the sabre-rattling between Iran, America and Israel at a time when Syria burns in the background. We are told that old-fashioned supply problems can explain the price of oil. Then, last Thursday, the main oilman in Saudi Arabia told us to chill out there was loads of the stuff left and there wouldn’t be any supply problems. Of course, this is all playing out against a background where the proponents of ‘peak oil’ argue that the stuff is running out anyway.
But might there be another reason that petrol prices are so high? Is there anything else driving up the price of petrol at the pumps that could be closer to home?
The answer is yes. At the moment, the central banks of the world are responding to this mega-debt crisis and huge de-leveraging everywhere with lower and lower interest rates. Earlier this month, a report from the US Federal Reserve (www.federalreserve.gov) on the flow of funds in the US made for quite shocking reading if you are someone who worries about what central banks all around the world are doing.
The report reveals that the Fed bought 61 per cent of the net new debt the US government issued last year. Before the financial crisis, the Federal Reserve used to buy small amounts, but not the lion’s share of the US government’s debt. This is quantitative easing like we have never seen before.
One way of putting all this into context is to examine how much this is in terms of US total income. This is particularly important right now in order to ascertain whether the US recovery is real or temporary.
full article at source:
see also http://www.youtube.com/watch?v=wDFgtb0by4E&context=C4464a34ADvjVQa1PpcFNVDp2zeCVu0l81wPbq-TLsRUiA5M9o4Vs=&utm_source=Website+Subscribers&utm_campaign=38d6d50671-02042012&utm_medium=email
Have you noticed that the prices of oil in the international markets have actually gone down that right down?
In fact the price was around $115 dollars a barrel and is now $97.18 dollars a barrel equivalent to 14.5% drop in 4 days but around Irish petrol stations you would not notice anything .Prices in my local petrol stations are still the same as there were last week .The operators are very quick to put up prices but very slow to change them Down .
sent to me to day
Please see what you think and pass it on if you agree with it. We are hitting €146.9 a litre in some areas now and soon we will be Faced with paying € 1.50 per litre. So Philip Hollsworth offered this good idea: This makes MUCH MORE SENSE than the ‘don’t buy petrol on a certain day campaign’ that was going around last April or May! The oil companies just laughed at that because they knew we wouldn’t continue to hurt ourselves by refusing to buy petrol. It was more of an inconvenience to us than it was a problem for them. BUT, whoever thought of this idea, has come up with a plan that can really work. Please read it and join in! Now that the oil companies and the OPEC nations have conditioned us to think that the cost of a litre is CHEAP, we need to take aggressive action to teach them that BUYERS – not sellers control the market place. With the price of petrol going up more each day, we consumers need to take action. The only way we are going to see the price of petrol come down is if we hit someone in the pocket by not purchasing their petrol! And we can do that WITHOUT hurting ourselves. Here’s the idea: For the rest of this year DON’T purchase ANY petrol from the two biggest oil companies (which now are one) i.e. ESSO and BP. If they are not selling any petrol, they will be inclined to reduce their prices. If they reduce their prices, the other companies will have to follow suit. But to have an impact we need to reach literally millions of Esso and BP petrol buyers. It’s really simple to do!! Now, don’t wimp out on me at this point… keep reading and I’ll explain how simple it is to reach millions of people!! I am sending this note to a lot of people. If all of you send it to at least ten more (30 x 10 = 300)….and those 300 send it to at least ten more (300 x 10 = 3,000) … and so on. By the time the message reaches the sixth generation of people, we will have reached over THREE MILLION consumers! If those three million get excited and pass this on to ten friends each, then 30 million people will have been contacted! If it goes one level further, you guessed it….. THREE HUNDRED MILLION PEOPLE!!! Again, all YOU have to do is send this to 10 people. That’s all (and not buy at ESSO/BP). How long would all that take? If each of us sends this email out to ten more people within one day of receipt, all 300 MILLION people could conceivably be contacted within the next 8 days!!! Acting together we can make a difference. If this makes sense to you, please pass this message on. PLEASE HOLD OUT UNTIL THEY LOWER THEIR PRICES It’s easy to make this happen. Just forward this email, and buy your petrol at Apple, Topaz, etc. i.e. Boycott BP and Esso
Barely a few hrs after the budget we see the prices at the pumps are rising and to-day I saw prices as high as 1.45 Euros per liter for petrol in Dublin and expect we will see prices past 1.50 a liter in the new year! At this rate I must seriously consider loosing one of our cars .I found this on youtube and it makes you wonder!