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#606587 - 23rd Oct 2011 7:21am Fuel prices fall by 6p a litre after Gaddafi death
Clive Offline
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Registered: 3rd Jul 2011
Posts: 2620
Loc: some where else
FUEL prices will fall by about 6p a litre following Colonel Gaddafi’s death, the AA said yesterday.

Prices are set to tumble in the coming weeks as Libya’s oil production returns to normal in the wake of his overthrow.

Spokesman Luke Bosdet said: “It will have a knock-on effect at the pumps.

“When the Libyan crisis began, petrol was just below 130p a litre and the average price now is just under 135p.

“We should soon start to see the price of petrol fall between 5p and 6p a litre – which is great News for British motorists. But it won’t happen overnight.”

Libya was one of the world’s bigger oil producers, pumping out 1.5million barrels a day before the country was engulfed by civil war in March.

Output collapsed to just 44,000 barrels at the height of the troubles.

But experts are convinced the oilfields will soon be back on their feet.

Brian MacDowall, of the Association of British Drivers, said: “We totally concur with the AA. When Libya’s oil production gets back to normal we should see an ­increased supply and reduced prices at the pumps.

“To see 6p come off a litre is great News for anyone who drives and will help so many people in their everyday lives.”

Mr MacDowell said the highest current fuel price they knew of in the UK was 140p, so a cut of up to 12p a litre was possible.

He added: “It couldn’t have come at a better time. It’s the bit of good News we Brits needed.”

And Kate Gibbs, of the Road Haulage Association, said: “Drivers are being pushed to the limit with the price of fuel so any drop would be a positive step.

“Our members have been suffering for a very long time and this is something we’ve all been hoping for.”

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#606593 - 23rd Oct 2011 9:19am Re: Fuel prices fall by 6p a litre after Gaddafi death [Re: Clive]
Pinzgauer
Unregistered


I heard this on the radio this morning. Well, I'll believe that "when" it happens. If (big if) Libya's oil production comes fully back on stream, you can bet your bottom dollar that the oil companies will ensure that any increase in supply does not translate into lower prices at the pumps. Output will be "regulated" to ensure high price per barrel.

Furthermore, the rodents, lice and cockroaches in H.M. Treasury will be pricking up their ears at the golden opportunity to notch up the stupidly high tax we already pay on every litre.

Me, cynical, ... nah !


Edited by Pinzgauer (23rd Oct 2011 9:20am)

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#606594 - 23rd Oct 2011 9:28am Re: Fuel prices fall by 6p a litre after Gaddafi death [Re: Clive]
StuyMac Online   content

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Registered: 24th Nov 2003
Posts: 12002
Loc: Wirralshire
If Id known it would have knocked 6p off Id have gone over the help the rebels!
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#606613 - 23rd Oct 2011 10:32am Re: Fuel prices fall by 6p a litre after Gaddafi death [Re: Clive]
Frog_Eyes
Unregistered


Yeah and am sure it will. I will Be very surprise if it comes down that much in one go whistle

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#617533 - 8th Nov 2011 5:42pm Re: Fuel prices fall by 6p a litre after Gaddafi death [Re: Clive]
Mrweb Offline
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Registered: 26th Jul 2011
Posts: 6
Loc: Wallasey
Wahoo 6p!

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