Wednesday, 8 June 2011

Links, statistics & lies

A few years ago we were told that gas prices followed crude oil prices as crude powered to $145 a barrel in July 2008 & gas followed. At that time the price of diesel was 129pp/l. By December 2008 the oil price had collapsed to $33 p/b and diesel was 95pp/l but gas had not moved down much. A few weeks ago crude was about $140p/b & diesel was 141pp/l. NOTICE THAT THIS FUEL COST IS 12pp/l HIGHER THAN THE PREVIOUS PEAK. Crude has now fallen back to $98p/b & diesel dropped by 4pp/l. SCOTTISH POWER ANNOUNCES A 19% PRICE HIKE IN GAS. Is someone being economical with the truth when they talk about wholesale & retail commodity price relationships?

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