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    The price of fuel to go up 5% end of month :(

    Banned
    just heard on bbc news fuel will go up 5% end of the month. it already went up 1p last week or so.
    just wait till march wonder what else will go up.

    58 Comments

    Still doesn't mean it's anywhere near its 2011 - 2014 prices before anyone starts blaming Brexit.

    Being British and Married, I know what else won't go up any time soon.
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    My Tax Allowance

    nothing to do with Brexit, opec limiting production to push up the price per barrel is the cause so fuel price increase will follow.
    Edited by: "andrewlaw9" 10th Oct 2016

    stuarthanley

    Still doesn't mean it's anywhere near its 2011 - 2014 prices before … Still doesn't mean it's anywhere near its 2011 - 2014 prices before anyone starts blaming Brexit.


    I'm blaming Brexit because of the negative effect its had on the £/$ rate.

    What are you going to blame it on? The boogie?

    RAFAVDV

    I'm blaming Brexit because of the negative effect its had on the £/$ … I'm blaming Brexit because of the negative effect its had on the £/$ rate. What are you going to blame it on? The boogie?


    The truth maybe?

    theguardian.com/bus…put

    Original Poster Banned

    andrewlaw9

    nothing to do with Brexit, opec limiting production to push up the price … nothing to do with Brexit, opec limiting production to push up the price per barrel is the cause so fuel price increase will follow.



    ​im not blaming brexit , I ment to say what will happen when the time comes near brexit in march, as I'm 100% sure it won't be just the fuel going up.

    stuarthanley

    The truth maybe? … The truth maybe? https://www.theguardian.com/business/2016/sep/29/oil-prices-rise-6-opec-agrees-limit-crude-output


    OK so the price of oil goes up per barrel, the fact the pound is dropping against the dollar (Yes because of brexit) means we get hit harder than if the pound was at the rates it was pre Brexit.


    RAFAVDV

    OK so the price of oil goes up per barrel, the fact the pound is dropping … OK so the price of oil goes up per barrel, the fact the pound is dropping against the dollar (Yes because of brexit) means we get hit harder than if the pound was at the rates it was pre Brexit.


    Crude oil price increases by 6% and we get charged 5%.

    Id say we're better off. Wouldn't you?

    The exchange rate drop is based on nothing but emotions at the moment.
    I was reading this today....
    bbc.co.uk/new…335

    Is it any wonder that people despise bankers ?

    Whose fault was it when petrol was £1.41per litre in December 2011?
    Edited by: "Predikuesi" 10th Oct 2016

    Banned

    RAFAVDV

    I'm blaming Brexit because of the negative effect its had on the £/$ … I'm blaming Brexit because of the negative effect its had on the £/$ rate. What are you going to blame it on? The boogie?



    Some more Brexit fallout

    cchopps

    Some more Brexit fallout


    Great so we'll have to pay more for petrol to travel to the supermarket pay for meat which we'll also pay more for.

    RAFAVDV

    Great so we'll have to pay more for petrol to travel to the supermarket … Great so we'll have to pay more for petrol to travel to the supermarket pay for meat which we'll also pay more for.



    What has Brexit got to do with meat sales in the USA?

    stuarthanley

    Still doesn't mean it's anywhere near its 2011 - 2014 prices before … Still doesn't mean it's anywhere near its 2011 - 2014 prices before anyone starts blaming Brexit.



    But that was due to a barrel being over $120 it's only $50 a barrel the moment and still going up

    sofiasar

    ​im not blaming brexit , I ment to say what will happen when the time c … ​im not blaming brexit , I ment to say what will happen when the time comes near brexit in march, as I'm 100% sure it won't be just the fuel going up.


    brexit is up to 2 years after march! Dont you know that? oO

    cwj3820

    But that was due to a barrel being over $120 it's only $50 a barrel the … But that was due to a barrel being over $120 it's only $50 a barrel the moment and still going up


    Still nothing to do with Brexit though.

    Predikuesi

    Whose fault was it when petrol was £1.41per litre in December 2011?


    I thought it was due to Eurozone crisis with Grexit and the pressure on the Euro causing the US $ to rise.

    Original Poster Banned

    chocci

    brexit is up to 2 years after march! Dont you know that? oO



    ​oh here she comes with her sword !!!!
    didn't you what Teresa may said last week !! didn't you know that since she announced it the currency exchange rate has dropped alot
    Edited by: "sofiasar" 10th Oct 2016

    Original Poster Banned

    splender

    I thought it was due to Eurozone crisis with Grexit and the pressure on … I thought it was due to Eurozone crisis with Grexit and the pressure on the Euro causing the US $ to rise.



    ​good point you have made. the Euro crashing and then Greece bail out played alot of roles

    sofiasar

    ​oh here she comes with her sword !!!! didn't you k is what Teresa may s … ​oh here she comes with her sword !!!! didn't you k is what Teresa may said last week !! didn't you know that since she announced it the currency exchange rate has dropped alot


    But Brexit isn't in March. That's all Chocci is saying.

    Original Poster Banned

    ​it starts from march. quote from bbc " pound has continued to slide since the prime minister said official negotiations on the terms of exit would begin by next March at the latest and indicated that she was seeking restrictions on freedom of movement rules - a move seen as incompatible with remaining a member of the EU's internal market.".

    chocci is always on my threads picking something or another while iv asked her countless times to stop replying to any of my comments. it's so simple! iv gave up on her!

    sofiasar

    ​it starts from march. quote from bbc " pound has continued to slide s … ​it starts from march. quote from bbc " pound has continued to slide since the prime minister said official negotiations on the terms of exit would begin by next March at the latest and indicated that she was seeking restrictions on freedom of movement rules - a move seen as incompatible with remaining a member of the EU's internal market.".chocci is always on my threads picking something or another while iv asked her countless times to stop replying to any of my comments. it's so simple! iv gave up on her!



    Read what you just wrote.

    "Negotiations on the terms of exit would start."

    Leaving the EU, or "brexit" will actually be rather quick - but the negotiations are what takes time.

    miikeyblue

    Read what you just wrote. "Negotiations on the terms of exit would … Read what you just wrote. "Negotiations on the terms of exit would start." Leaving the EU, or "brexit" will actually be rather quick - but the negotiations are what takes time.


    Exactly.

    HotEnglishAndWelshDeals

    What has Brexit got to do with meat sales in the USA?


    Basic supply and demand, more people buying our meat means the price will increase.

    RAFAVDV

    Basic supply and demand, more people buying our meat means the price will … Basic supply and demand, more people buying our meat means the price will increase.


    Which still has nothing to do with Brexit

    RAFAVDV

    Basic supply and demand, more people buying our meat means the price will … Basic supply and demand, more people buying our meat means the price will increase.



    I was referring to the sale of beef in the United States - that has nothing to do with Brexit.

    HotEnglishAndWelshDeals

    I was referring to the sale of beef in the United States - that has … I was referring to the sale of beef in the United States - that has nothing to do with Brexit.





    https://cdn.meme.am/instances/500x/62819680.jpg


    Brexit causes the pound to crash against the dollar (and euro and....) , which makes British beef much cheaper to overseas buyers.

    RAFAVDV

    Brexit causes the pound to crash against the dollar (and euro and....) , … Brexit causes the pound to crash against the dollar (and euro and....) , which makes British beef much cheaper to overseas buyers.


    Which still has nothing to do with the US resuming purchasing meat from the UK.

    Much over complication here. Has Brexit contributed to fuel price rise. Yes, fuel is bought in dollars (cheeky Americans) so when we use pounds to buy dollars to buy fuel, we get less dollars, we get less fuel. Conspiracy nut jobs need not overcomplicate things.

    acj7745

    Much over complication here. Has Brexit contributed to fuel price rise. … Much over complication here. Has Brexit contributed to fuel price rise. Yes, fuel is bought in dollars (cheeky Americans) so when we use pounds to buy dollars to buy fuel, we get less dollars, we get less fuel. Conspiracy nut jobs need not overcomplicate things.


    And yet, it's still nothing to do with Brexit, as pointed out several times in this thread.

    lot at thinking the £ exchange rate drop (due to brexit) won't affect prices at the pump.

    upset brown pant

    lot at thinking the £ exchange rate drop (due to brexit) won't affect … lot at thinking the £ exchange rate drop (due to brexit) won't affect prices at the pump.


    It will affect prices but it isn't the reason that fuel is jumping up by 5% right now as per this thread.

    acj7745

    Much over complication here. Has Brexit contributed to fuel price rise. … Much over complication here. Has Brexit contributed to fuel price rise. Yes, fuel is bought in dollars (cheeky Americans)


    And why is this so? Shouldn't it be possible to use local currency of the oil producer itself? (not american oil obv)

    stuarthanley

    It will affect prices but it isn't the reason that fuel is jumping up by … It will affect prices but it isn't the reason that fuel is jumping up by 5% right now as per this thread.



    i imagine they will hit at the same time once the higher priced and dollar traded crude is refined and shipped to market. OPEC (and non OPEC) raising prices by 6% isn't going to add 5% to the pump price in much the same way it didn't fall by half when the crude price was halved. brexit will add far more in the next few months than this rise, which is just a compounding factor.

    CookinBat

    And why is this so? Shouldn't it be possible to use local currency of the … And why is this so? Shouldn't it be possible to use local currency of the oil producer itself? (not american oil obv)



    the dollar is widely accepted everywhere. no point getting traded in dirams if you then have to convert to dollars to buy stuff from china (who trade in dollars) or invest the cash elsewhere in the world and near enough every country holds dollars as their primary foreign reserve.. might as well get paid in a far more stable and easily traded currency and save the hassle.

    imf.org/ext…htm

    upset brown pant

    i imagine they will hit at the same time once the higher priced and … i imagine they will hit at the same time once the higher priced and dollar traded crude is refined and shipped to market. OPEC (and non OPEC) raising prices by 6% isn't going to add 5% to the pump price in much the same way it didn't fall by half when the crude price was halved. brexit will add far more in the next few months than this rise, which is just a compounding factor.



    Plus it'll add to transport costs of imported goods that are already going to cost more due to the weaker pound.

    Original Poster Banned

    is it best to convert £ in to $ ?

    [email protected]

    The exchange rate drop is based on nothing but emotions at the moment.I … The exchange rate drop is based on nothing but emotions at the moment.I was reading this today....http://www.bbc.co.uk/news/uk-37591335Is it any wonder that people despise bankers ?


    While short term fluctuations are caused by demand and speculators , the long term is caused by 1/ pound devaluations since WW2 because of major structural change 2/ massive year on year current account deficit because we import more than we export because we are too lame 3/ printing money out of trouble using quantitative easing because we like to spend more money we haven't got 4/ lack of confidence in sterling because we have more risks, brexit is one factor.

    sofiasar

    is it best to convert £ in to $ ?


    Yes, if you got spare, as much higher pressure of £ down than up, put it this way, if one has a property portfolio , sell up £1m asset and convert to US $ has better prospect to gain from £ gaining parity with $ than rental income and risk to capital gain.
    .
    Come next year, Merkel and Holland, will be too busy to negotiate with May, that's uncertainty for sure.

    upset brown pant

    i imagine they will hit at the same time once the higher priced and … i imagine they will hit at the same time once the higher priced and dollar traded crude is refined and shipped to market. OPEC (and non OPEC) raising prices by 6% isn't going to add 5% to the pump price in much the same way it didn't fall by half when the crude price was halved. brexit will add far more in the next few months than this rise, which is just a compounding factor.


    Only the up side, brexit brings in boom in profits with extra economic activities, we capitalists love to give more wages for our hard hit Brexiter by our fellow compatriot responsible captains of business, not.
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