It is Obvious

Chris Rick has got altogether too much to say

I can do arithmetic

Posted by chrisrick13 on December 2, 2014

It is obvious: I am not stupid

Did you know that there are 42 US gallons in a barrel of crude oil?  Not exact or even consistent but close enough for me.

Did you know that when that barrel of oil is refined about 19 gallons are petrol?  Not exact or even consistent but close enough for me.

Did you know that at $105 per barrel of oil the cost of oil in a litre of petrol is 53p.  Not exact or even consistent but close enough for me.

Did you know that at $70 per barrel of oil the cost of oil in a litre of petrol is 35p.  Not exact or even consistent but close enough for me.

Did you know that in March this year oil was about $105 a barrel and petrol was about 130p a litre.  Not exact or even consistent but close enough for me.

Did you know that yesterday oil was about $70 a barrel and petrol was about 121p a litre in my local petrol station.  Not exact or even consistent but close enough for me.

So who has the 9p?  Not exact or even consistent but close enough for the oil companies.

It is obvious: I am not stupid just better informed than I was yesterday

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4 Responses to “I can do arithmetic”

  1. Bill said

    Sad to say that one of the universal laws is that Prices rise fast and fall sooo slooowly

  2. Mark said

    I’m absolutely amazed that the ‘raw material’ costs for a litre of petrol are so high, but I trust your figures.
    If the oil companies are raking it in, I wonder what that doesn’t seem to be reflected in their share price.

    • I could be wrong in my method…but it is out there to see. Heard that cost of oil in petrol was a few pence.  If so we would not give a damn about doubled oil prices.  Double bugger all is still bugger all. Kind of matches the increases going up but not coming down. Saw the argument that they forward buy to stabilise prices.  No they don’t but if they did there ought to be a long gap between oil rising in price and pump prices going up but there never is. They have done it and as we stand here today have had prices high and costs low, but nothing has been done about it.  No inquiry.  No parliamentary committee hauling CEOs in.  Nothing.  We just have to pay…and pay and pay.  Isn’t there an energy watchdog? Bah!  I am becoming more and more disillusioned.      Chris Rick

    • Today the RAC have complained about a discrepancy of about 7p that the oil companies are pocketing.  So that means my figures are in the right area. It does help:  22°C is 72°F and $70 a barrel of oil is 35p of the cost of a litre of petrol.  Easy to remember.      Chris Rick

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