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The latest, and potential ongoing, problems with the US economy means that the future of the US dollar is becoming a lot less predictable. One of the downsides to this is the global use of the US dollar to set oil prices. Whilst countries around the world have pushed to change this method of establishing prices it looks as though we’re stuck with it for the Read more »

The AA has revealed that we are seeing a North South divide open up when it comes to fuel. Apparently prices are rising faster in the south than in the north. Recent drops in oil prices should have resulted in pump prices dropping but the garages in the south seem reluctant to pass on the savings. The average price of a litre of petrol in the north is now 115.5 pence but in the south it’s 117.2 pence. The gap has opened Read more »

We have such short memories! I remember the furore when petrol prices hit 119.7pence per litre 2 years ago. Fuel suppliers were challenged and emails flew around in all directions telling everyone to boycott the main oil companies in an attempt to force petrol suppliers to drop their prices. At the time oil prices were $147 per barrel but with exchange rates at about 2 dollars to the pound it put the price per barrel at Read more »

During this bad winter the number of car insurance claims have sky rocketed. From crashes to pothole damage, it’s been a disaster. As a result we are likely to see a hike of between 7% and 11% in premiums making it even more important to shop around when it comes to renewing your car insurance. Increased oil prices are going to add to the pain by adding up to 5 pence per litre with predictions that fuel will Read more »

Fuel prices seem to have settled for a while but concerns have been raised about the differential between petrol and diesel. In November 2007 the difference was 2.6 pence per litre. When the cost of a barrel of oil increased to $147 in July 2008 the price differential increased to 14 pence per litre. Whilst oil prices have dropped back to less than $50 per barrel the differential between the two fuels is still at 3 times the Read more »