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As the oil price dips on the prospect that intermediaries might be able to rebuild some semblance of ceasefire between the US & Iran we have the opportunity (far from the conflict's fatal consequences) to see, once again, the petrol price's well observed trajectory of 'up like a rocket, down like a feather'....
and its worth observing (as I have before) that retail petrol firms make their 'extra' profit from conflict during the slow(er) decline of the price.
@ChrisMayLA6 Not 100% convinced on that last sentence. There is always oil brought at a high price in the supply chain that has to go first.
But one could equally make the same point about the supply of cheaper purchased petrol as the price rises.... it either maps the prices rises at wholesale of doesn't & the argument is that the retailers only follow the wholesale price coolly going up....
@ChrisMayLA6 retailers put it up for two reasons. One if they didn’t they;d run out as everyone in the area flocks there. Twain they need the income to pay for the expensive stuff coming in. We have a village filling station and their view is they serve thei locality. Which means they have to have fuel for locals but they recently dropped their prices below Sainsburys to pass on savings.
@ChrisMayLA6
Mr Global pointed out that the dip is refinary capacity (and demand) being reduced by strikes and actually heralds a price increase on refined products.
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