The percentage drop in the price of crude oil over the last 10 days or so. And how much has the forecourt price of unleaded dropped? 1p per litre! So a 21% fall in the price of the underlying commodity results in a 1p price fall in the product! It’s good job the oil companies aren’t making record profits…AGAIN
BP yesterday gave there half yearly profits public and its in the millions, why cant they drop the price of fule a bit to help us seeing they are making soooooooooooooo much money out of us.
Are they making mega-money off forecourt sales, though? Or is it the sale of oil to other companies?
Unfortunately my friend it is called free market economics. BP only concern is maximising profits and keeping their shareholders happy.
If they know we will pay it, they will charge it.
I can’t see how they can’t be making a profit from forecourt sales.
Oil is supposedly getting more expensive to extract, so they must be offsetting that and still making money from somewhere.
Globalised bussiness is complicated and diverse.
The only reason that Ford, Chrysler and GM are able to keep going with their losses in the car industry is that making cars is a second, or even third tier bussiness to them after banking, property and lord knows what else.
Putting all that complexity aside, % mark ups for proffit stay fairly constant in any industry, so, if the base price of a product goes up and the % proffit stays the same, the cash proffit goes up very nicely thank you.
Are the share holders going to shout “foul” when their dividends get a nice lift?
My local petrol stations has dropped to 113 for a high of 122. Not complaining to much about it, but it would be nicer if it was cheaper.
Petrol stations make very little money on the petrol hence the massive number of them closing over the last twenty years. Were I grew up there was four petrol stations, now the place has nearly doubled in size, and the number of cars is through the roof. Number of petrol stations one.
does lala land count though kev ? 
Not feeling particularly sharp at the moment. Had a migraine attack this morning, and feeling particularly shitty. 
$26 Billion. Most of it made through discovery and developement of oil fields. BP spokesman said that they “don’t make much profit from selling petrol.” Well this is an admission for a start because up till now they always claimed they never made a profit from petrol sales.
If they don’t make a profit you can bet your arse they wouldn’t sell it!!