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GUYS oil price have dropped signicantly

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Not applicable
why is it that there is no relative decrease in petrol price????? someone is making a lot of money from this
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5 REPLIES 5
Ega
Super Contributor
Oil is priced in $'s we pay with R's
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louisg
Super Contributor
If the rand stays at about R10/$ and oil at about $60/barrel we should see about a R1.50 decrease in the petrol price and about 70c for diesel. So lets hope for about a R600/barrel of oil in the next month.
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Wizard
Super Contributor
Wishful thinking. Slowly but surely the oil price will start rising from current levels
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Apis
Occasional Contributor
Met a few people last week: The crude oil is mainly used to produce chemicals, rubber and plastic..and not to make gasoline. SA, as they also say has not paid more then 68USD for a Barrel due to long term agreements between Governments,- so we will not see a lot of fluctuations downwards.. The worring thing is that if the crude oil rises, they use the opportunity to rise the Gasoline price, but the other way round - ??!! Regards MK
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Not applicable
yeah does not suit oil co's to lower prices of gas,would lower their bottom line billion dolllar profits that is why they are called PIGS
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