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Mid February Forecast
forecast
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2010-02-01 08:40:03

As predicted, oil prices continue downward and are now at $71 for Brent crude. The dollar has strengthened to $1.38 to negate much of the oil drop.

Expect pump prices to start reducing in the coming days and average prices should be approx 1.20 for unleaded & 1.10 for diesel by mid february. The lower priced stations will probably be about 3c lower than this at 1.17 / 1.07.

Looking further ahead, analysts suggest it is possible that oil will continue its downward trend and settle in the low $60 range. This would shave a further 5c off retail fuel prices.

 



bigc
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2010-02-02 15:15:48

Oil prices have risen and the price of a barrell has risen to slightly over $75. This will again see a slight increase at the pumps


mcaul
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2010-02-05 11:26:57

That was a temporary rise - there will always be small jumps, but the trend is downwards toward $60. Current price back at $71. The dollar is also moving towrds $1.30 which negates some of the drop in oil price.

Market fundamentals are the pointers to oil pricing rather than specualative gambling. This is ensuring a "real" price is charged for oil based on real time demand and production.

 


prof_frink
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2010-02-10 17:27:43

any chance of a return to pre-Katrina levels of below $50 a barrel this year?


bigc
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2010-02-11 12:35:27

The price of a barrell has risen once again to over $75 a barrell with the cold weather and the prospect of the EU bailing out the Greek economy


fiestago
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2010-02-13 20:49:04

Just noticed alot of pumps have gone up about 2c this weekend. Pity.


Desty
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2010-02-16 23:26:47

Still seeing a gradual upward trend


bigc
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2010-02-17 13:24:54

Price of a barrell almost €78 and continuing to rise. The cold spell in Eastern United States and central Europe is driving up prices.


mcaul
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2010-02-17 13:37:15

Damn - really thought prices would have dropped. But as usual other factors have come into play. More cold weather and lift in the US economy have buoyed the price higher.

The commentators are still split on whether oil prices will stabilise or start back on their downward trend. - It may be wise to fill up on home heat as the carbon tax will be applied from May 1st

 


bigc
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2010-02-19 08:56:22

Price of a barrell nearing $80. Not much prospect of the prices falling in the next week or so


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