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Originally Posted by StumpyPete
No it hasn't - that is a 40% reduction (39.46%)
You are forgetting that the petrol retailer needs to pay staff, overheads and make a profit, plus there is the cost of refining, transportation of the oil to the retailer, and any taxes - so retail prices are always going to be significantly higher than the trading price. Fuel prices always lag the market prices - fuel in the forecourt now was probably purchased 2 weeks ago and so it should be compared against the oil price at that time. However it is true that prices go up faster than they come down.
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Doh, good catch.
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