The UK government is complaining that petrol prices are not going down fast enough to customers. Isn’t that nice of them. Well it would be if they were being honest.
It’s great that the prices are going down albeit for the wrong reasons. We should see more price drops for items which are delivered by road with the full backing of the government in theory.
However, how low will petrol prices go? We all know that the government take the biggest share of the cost of a gallon of petrol by a considerable margin. So whilst it’ll go down the government will keep their share and may well increase fuel duty when petrol is at its lowest price. That’ll be really great for us all when the price rises. I think not.
Will the oil companies suffer? Unlikely. They have so much money they can easily get over the low price period. They’ll still have the same assets when the price goes back up. They might screw a bit of money out of their workforce by way of wage cuts etc. because they can and money is money after all and better in their pockets than their workforce, who would just spend on food and the like.
The shrill MSM are busy telling of the doom the low oil price will cause people Scotland. It’s really early electioneering from those stalwarts of Scottish industry formerly known as the Labour Party in Scotland. Just listen to “we told you so”. Actually they lied as is their want.
It’s a result for the anti-frackers though. They seem to gain their knowledge of how dodgy fracking is carried out from a movie and a documentary, both of which contained huge inaccuracies and downright lies.
It’s just such a pity that we couldn’t stock pile petrol. Not a good idea at all. I’m sure the people with oil heating systems will be watching carefully to pick the sweet spot on the price and then fill up to the gunnels.
It’s an ill wind.