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Old 29-Dec-2008, 04:49 PM   #1
VVT-i
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Exclamation Time to fill up your tanks... as prices set to rise??

If this report is accurate, it might be wise to start filling up your tank as prices are set to soar again...

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Energy Prices Set To Soar Again...
Oil cut sparks fuel price fear

PETROL prices may be about to get pumped back up. After a slump in oil prices gave drivers a break from rocketing fuel bills, the OPEC cartel of oil-producing nations agreed a huge production cut to try to force crude values back up.

Output was slashed by 2.2 million barrels per day in a bid to push prices up from the current per barrel to around . When petrol reached an average level of 119.5p per litre in July, that figure was 7. But some analysts say plummeting demand brought about by the global economic crisis will prevent a price hike.
From here: http://www.autoexpress.co.uk/news/au...el_prices.html
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Old 29-Dec-2008, 08:58 PM   #2
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Originally Posted by VVT-i View Post
If this report is accurate, it might be wise to start filling up your tank as prices are set to soar again...



From here: http://www.autoexpress.co.uk/news/au...el_prices.html
They have tried to reduce production before but with little effect on the falling oil prices because the prices were driven up by speculators.
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Old 30-Dec-2008, 04:24 PM   #3
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They have tried to reduce production before but with little effect on the falling oil prices because the prices were driven up by speculators.
Just yesterday, crude oil price rose US$3 to US$43/barrel, the fighting in the middle east can also cost oil price to rise, it could be a coupling effect added onto the reduced production. Then again, it could be the speculators in action again.
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Old 04-Jan-2009, 02:10 PM   #4
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I read that China is topping up their oil reserves. It could be a sign that the prices are really going up again.
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Old 04-Jan-2009, 07:53 PM   #5
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Originally Posted by VVT-i View Post
If this report is accurate, it might be wise to start filling up your tank as prices are set to soar again...



From here: http://www.autoexpress.co.uk/news/au...el_prices.html
For the amount we can store in our cars, it doesn't make a big difference in savings.
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