Tuesday, August 20, 2013

After a quiet summer the oil speculators are back at their desks. And guess what? Crude is starting to go up in price and we're told to expect to pay another 5p for every a litre of fuel in the next month. With a dreary predictability the oil traders have latched on to the crisis and Egypt and decided that the price of oil needs to increase even though there's been no interruption to supply. How can they be so brazen, so opportunist? There's no reason for oil to go up in price. Demand from China, Europe and the US is at an historic low, supply from Saudi has never been higher, so oil should actually be going down in price, not up. 


This week's announcement is clear and obvious proof that the oil market is being shockingly manipulated. When price rises have absolutely nothing to do with supply and demand we know that there are other forces at work. And these mischievous forces have the power to destabilise the global economic recovery. I'm amazed at the sheer impudence and obviousness of the timing of this price rise. These guys go away on holiday and the price of crude flatlines. They come back to work and oil instantly goes up. Do they think we can't see this? Do they think we're blind to this frightening level of deviousness? What should really alarm us all, is that they clearly think that they're above the law. They've heard about investigations into price manipulation in the US and Europe and calls for the same in the UK, and they just laugh out loud. The oil industry believes its just too powerful and wealthy to be challenged by consumer outrage or government legislators. They clearly have no conscience whatsoever.


And if the UK doesn't join the US and Europe in demanding an investigation then we will have to come to the obvious and deeply sad observation that this government doesn't want to rock the proverbial supertanker. That their tax revenues are to valuable to be disturbed and they don't want to upset London's oil trading desks. FairFuelUK will continue to pressure this government and Robert Halfon MP and I will lobby Parliament to help stop this huge and scandalous level of price fixing. I wave an apocalyptic finger and say that this autumn we'll see more baffling rises just like this causing the price at the pumps to creep insidiously upward. We simply mustn't let this deliberate and uncontrolled fuel-price inflation continue. In a first world economy where transparency is hailed as a moral imperative the oil market is shamefully and willfully arrogant. Something has to be done and heads should roll.

 




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[ posted by s livermore, 20.08.13 20:27 ]

They continue to ignore the fact that this rise, would affect more households, we're struggling as it is, some may not be able to afford holidays, they may have to cut down on Xmas presents this year. Can they not see how the real world turns. KEEP THE COST OF FUEL DOWN

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[ posted by Jim Taheny, 21.08.13 11:10 ]

Both the oil companies and the government, who we vote into office, are desperate for more money, so why not hump the motorists again. We are easy meat and unlike road users in some other countries, we do nothing about it. Why do we and why should we, accept these unfair fuel prices?

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[ posted by James, 21.08.13 11:17 ]

The possible increase in the cost of oil isn't good but the actual cost of fuel at the pumps before tax isn't that bad. It's the UKs governments that is hellbent on keeping the economy stalled with over the top tax that is the real problem. If they cut tax then yeah they may take a temporary loss to the revenues but the massive boost to the economy would more than make up for it. The price of petrol should be no more than £1.20 and every time it rises about that due to oil increases the tax should fall to level it out. That alone I think would be the biggest and most important thing anyone could do to boost the UKs economy and get everyone working again. Maybe we could take the cost of this tax cut out of the millions we waist on the unelected dictatorship that is the EU. Why should the British people work and pay through the nose for everything not just fuel to fund our governments and Europe's waist.

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[ posted by Mike Reavell, 21.08.13 11:18 ]

Sorry, the Gov'ment gets too much revenue from Petrol sales to be bothered!

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[ posted by Brendan mcAlinden, 21.08.13 11:22 ]

The Egyt crisis has only come to a head in the last few months and based on that the speculation is that trade routes will be disrupted and oil prices need to increase just in case.
In the UK this means immediate increases at the forecourt of 5p a litre.
Yet many, including FFUK, have requested that the allegations into petrol price fixing be investigated. This investigation has yet to start even though it was requested long before the Egypt crisis.
Sadly many UK citizens do not have any faith in anyone in this or any other Governments ability to deal with it.

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[ posted by Graham Oakes, 21.08.13 11:22 ]

There are more than 30 million drivers in the UK but the vast majority just shrug at this type of news or at best have a good moan to their workmates. In a democracy 30 million people onboard with a campaign WILL get results. Even 10 percent of this figure would have a massive impact on govt by writing to their MP`s and joining highly visible groups intent on wiping out this kind of piracy by the speculators. Perhaps if the US or EU succeed we`ll see a change in attitude. In the meantime its important to get in the faces of those in power and STAY in their faces. Groups like this will need to recruit more to continue doing just that.

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[ posted by Mat Look, 21.08.13 11:39 ]

Oil up, gas up, electricity up - everything is linked to Oil directly by either price structures or indirectly by reliance e.g. transport costs increased reflected on the high street. Oh and Tax revenues go up as well across the board unless consumption drops ......
What I wonder, would a week of zero fuel purchases by the consumer achieve ? Not just holding off or filling up early but a real effort to not consume for a week - what would that lost weeks TAX revenue be ? I minor dent for sure at best. Pipe dream Im sure.
Head in hands wondering how to recover yet more costs in my small business.
:-(

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[ posted by Roger Groocock, 21.08.13 11:40 ]

If we taxi drivers put our fares up and down in line with pump price fluctuations, the outcry from the capitalist businessmen who use our service WOULD be heard in the corridors of power.

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[ posted by rob harrison, 21.08.13 11:51 ]

The real reason the government will not step into the investigation is corruption. With 'lobbyists' lining the pockets of our politicians with 'campaign funds' its no wonder that the ordinary person has no chance of ever being dealt a fair deal.
Whenever any politician accepts monies from a industry, you can bet that industry will want something in return. Politicians write the laws that industry tells them to.
The only person who entered parliament with honest intent was Guy Fawlks. No wonder he is celebrated.

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[ posted by Martin, 21.08.13 11:55 ]

Don't worry, the Government will not let this price rise go ahead. They are committed to keeping the price stable.

*Okay matron, I am coming back now ! *

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[ posted by Algernon Cumbersnatch, 21.08.13 12:01 ]

Is there currently a petition to have this debated in the commons? If you were to start one off and publicise it here and elsewhere I am sure it would get the requisite 100k signatures pretty swiftly. As Graham Oakes notes above, there are 30m drivers. Not all of them can be motivated to march or write letters, but if all they need to do to register their disapproval is sign a petition they will probably be bothered.

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[ posted by Anthony Dawson, 21.08.13 12:02 ]

I am disgusted by this government, it does nothing to address the problems causing the economic downturn, but puts a lot of effort into demonising the poor, ill, pensioners and unemployed and sell off the royal mail and the NHS (probably to oil speculators). Typical tory, its like a repeat of the depression of the 80's.

Its disgusting they let this happen, and I would think nothing short of a riot on the steps of westminster will be expected as more people are being pushed into poverty by this landslide of economic failures, and its terrible that it will take poverty to make people act.

As for my business;
I can (and do ) travel a lot of miles for the jobs at hand, a lot for a current contract eating away at my profit line. A 5p increase will be murder! even more so if it shoots up even more, which in all honesty will make it difficult to feed my family, and subsequently will cut down the work I do get as more companies that employ me tighten their belts.

Its governmental suicide,,, why can then not see it?

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[ posted by Martin, 21.08.13 12:12 ]

Don't worry, the Government will not let this price rise go ahead. They are committed to keeping the price stable.

*Okay matron, I am coming back now ! *

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[ posted by Andrew Scrivener, 21.08.13 12:41 ]

Daylight Robbery , i am convinced this government are out to make the normal public end up like slaves while the rich get richer , people like cameron wear blinkers and just see what they want, thinking they know best because they went to a top school . How are we going to carry on with fuel going up and up , the country will come to a stand still , as at the moment a lot of company,s are taking advantage of the minimum wage ,which is well below any standard of living .Where do they get that the average wage is £26,000 a year , in london it might be . People cannot afford to put fuel in the cars if they have to travel long way each day to work , i am unemployed and i do not get a penny because they say i have not paid enough stamp money in , but every fortnight i have to travel 16 miles there and back to sign on just to hand in a form to show that i am applying for 8 jobs a fortnight , i do not get a penny for my traverling , yet imagrants get all the help. This is a no fair Britain

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[ posted by John Fryatt, 21.08.13 13:09 ]

The government are behaving very badly by not seriously investigating oil price control. They are clearly at odds with the public (or those that express and opinion at least) so you have to seriously wonder why that is. Do they not want to 'rock the boat' of the rich elite, or are seduced by large campaign donations, or what? It may or may not be the case, but it's hard to stop thoughts of corruption popping into your head. Or major incompetence, although I can't see the government ministers etc. as just simply stupid - there has to be a bit more to it that that.
Meanwhile, they distract us with measure to penailise people at the lower end of society, such as by 'encouraging' them to move to smaller flats which don't actually exist.
Anyway, whichever way you look at it the government (which is meant to govern with the mandate of the people) are not helping the people or our economy, and if they don't get a major kick in the pants at the next election I'll be amazed.

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[ posted by Benn Fox-Simmons, 21.08.13 14:22 ]

Summer is over, the cold weather is on its way. And now is the time we all start to use things such as cars, heating and lighting alot more than we have had to in warmer months. The government and the fat cats in the supply chains for fuels use this as an oppertunity to rip us all off to the max. They know we need to heat and light our homes thoughout winter and need our cars to get from A to B. That is when prices rocket, year in and year out. The people of the UK dont have any spare cash as of now so the increase of 5p will have a drammtic effect on all commodeties. People will now have to make a choice, heat there homes or eat. This is a very said time and the government are going to kill people off by doing this. Can they be charged for murdering people who cannot efford to heat and eat.

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[ posted by Steve, 21.08.13 14:34 ]

Do you think they care one bit if everyone has to work twice as hard for half the money as long as they fill there own pockets they care not one bit

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[ posted by Esther, 21.08.13 14:52 ]

Such greed.Its all about the money they make not the suffering they cause.the country is on a downward spiral.greed greed greed

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[ posted by Sheryl Hepworth, 21.08.13 15:28 ]

It is ridiculous that the government would even consider the possibility of this sort of increase. In the Highlands we are already paying an average of £140 a litre for unleaded!! I do nearly 100 a day just taking my son-in-law to work and getting home to get my Grand-daughters up and onto school bus which costs us nearly £100 a month as it is!! If I go back to taking them to school and picking them up my mileage goes up to close on 200 miles a day!! No family can sustain these sort of costs and we do not have the benefit of public transport either! Ask John Thurso what its like up here! He is one politician that does understand our problems!

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[ posted by Benn Fox-Simmons, 21.08.13 17:55 ]

Well it looks like you can only post here if you are friends with you and fairfule uk. Why ask the general public for comments if you do not post them. hardly seems right myself but there again you are now looking just like the people you are against. You cannot fight a fight that only a few may comment on. if this is the case then i'll be sure to pass it on to all othe facebook users. Thanks again for not listening to peoples comments.

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[ posted by Richard Smith, 21.08.13 18:00 ]

Does any one know the price of fuel in Jersey, who incedently import all fuel, when we were there in the summer we paid £1.12p for petrol & £1.15p for diesel, the most expencive petrol was £1.29p. Thinking this price rise is something to do with the dopey Liberals who wnat to ban all cars & vans by 2040, so that everybody will revert to using abike, cant see my 86 yera old Mother in Law going to Sainsbury's to do her shopping by bike some how.

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[ posted by sean grant, 21.08.13 18:18 ]

Bloody hell u all just waking up to this its been going for yrs i got kicked from a well known web site for having ago at one we are going to pay for there holiday and xmas its time this goverment did something about this these ppl make a mint on our missery at the pumps come on goverment do something

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[ posted by admin, 21.08.13 18:39 ]

To Benn Fox-Simmons. No we are small campaigning group and have to approve comments made on here because of certain people who abuse, swear and libel certain readers of this blog, including politicians and decision makers.

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[ posted by Alexander Lough, 21.08.13 18:56 ]

Its getting harder for people like me,i live in the countryside i depend on my car to get shopping in DUNBAR the nearest town to where i live. I am a disabled person,i cant walk far and the car is my only way to get out and about,the price now here in the Dunbar area is 1.36.9 per litre.what do we have to do to make this government do something,would it help if everyone got together and stopped buying fuel for a week,i would be willing to take part if necessary.

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[ posted by William Russell new contributor, 21.08.13 19:31 ]

Having been in the Haulage industry for over forty years (now retired),can't this countries successive governments realise that the reason we get inflation in this country is mainly down to the price of fuel,and as the haulage companies rely on Diesel as their main or only fuel source, this affects the cost of all goods sold in this country.It is therefore ludicrous to increase the cost of fuel as this will only result in increased prices in the supermarkets and high streets of this country.better to reduce the cost of fuel which in turn will reduce transport costs which should be passed on to the consumer in the form of lower prices which leaves more money in the consumers pocket to spend on purchasing further goods which in turn stimulates the economy creating more jobs,more tax being payed and a more sustainable economy around.Its time Parliament woke up to the views of the people and not the oil companies who are profit driven.

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[ posted by Benn Fox-Simmons, 21.08.13 19:42 ]

I appologise for my preveous statement. And i do understand that you have to vet posts. And from, i obsurve you have repied to my previous post in 44 mins compared to posting my first post over 3 hours later. im not having a pop just pointing out some thing. I dont like how the government are not behind the people of the UK in respect of rebuilding the ecconomic growth. All they seam interested in is making the poor poorer, themselves richer and pushing the whole country deeper into a recession. If 5p goes onto a litre of fuel this will put a strane on everyones pocket. And it will have a snowball effect on everything. I live and work in Blackpool, and from what i see on a daily basis is people are window shopping. They dont use taxi's, bus's and they dont buy things. They are all too scared to spend as no one nows what is round the next corner. Household bills will be on the rise very soon just to put another spanner in the works. The top cats think its only pennies they are putting on something but them pennies are turning into pounds. The top cats of the UK are slowly strangling every last pence from every last person just to show a better profit from the previous year. Cutting the peice of fuels would give people a bit of spare cash thus spending would resume and the government would have a fare better return than just adding to struggle we are in. Years gone by when you paid for fuel by the gallon it was like ye ok, but the the government decided to sell it by the litre, telling us it would be cheaper that way. We where then told to cut back on using fuels in the home thus making our bills cheaper. But now filling the car is not cheaper nor are the uttlity bills so promised. So the government has lied, the uttlity companies have lied and it is us the general public who now have empty pockets/wallets and are suffering for the consequences of these lies.

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[ posted by Jon, 21.08.13 21:30 ]

The price for fuel is a a joke ! I feel like i am just working to make the oil companies and government rich .
I will be making my voice heard at the election .

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[ posted by Paul Corder, 22.08.13 10:07 ]

Yes the Government and the Oil companies see as as cash cows, that goes without saying, but you seem to forget that the main speculators driving up the fuel costs are the Futures Marketeers. In your blog you mention speculators but only condemn the obvious protagonists!!!
The worst thing that the UK ever did was invent the Futures market where speculators can make buckets of money speculating what they want the price of many commodities to be. It is glorified gambling by risk takers and WE PICK UP THE TAB!!!!!!!!
Remember they speculate on almost anything (Coffee prices were driven up by them a few years ago) and have no concern on who they affect.
Tine to target the City of London Futures Market!!!!!

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[ posted by annround, 23.08.13 11:49 ]

these speculators need stopping but the Government don't care because every time fuel goes up they get a cut. politicians aren't bothered about the price cos they get expenses.

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[ posted by GrahamL, 25.08.13 12:25 ]

Of course it should be investigated, by an independant body.... but hang on, how much extra tax income do these rises equate to? How much of the 5p at the pump will actually be in government taxes? Maybe THAT'S why there's been no investigation recommended / carried out ? Tax increases suspended / cancelled in "headline statements" in the various budgets, but I'm sure the tax income from this and previous price rises will have more than compensated for the "cancellations" - people cutting back will lead to higher taxes / pump prices, distribution costs, further increased prices in the shops, inflation, and to fuel fast becoming a luxury item....

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[ posted by ChrisK, 02.09.13 15:09 ]

Its funny though because I was watching the news on CNN a few weeks ago when a banner came up along the bottom of the screen saying that markets are getting gittery due to the oil price slump due to lack of demand.

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