The price of petrol at the pump was 88.9p/l this morning (1p less overnight, oil campanies are so genereous). Oil price this morning was 54.65 USD, the currency exchange £/$ was 1.543 making the oil price at 35.4 GBP and my favorite R factor at R=2.51. This is too high compared to previous figures. Remember in June it was 1.81 in mid october it was 2.37 (which was already high). On the 4th November it was 2.54. We continue to pay too much for the petrol @ pump but obviously you never hear about it in the media anymore. Credit Crunh, pre-sale Christmas, black Friday and Crazy Monday are under the spotlights. Those are the subjects people want to hear about. Next month you will hear about Christmas sale performance, the VAT reduction effect, property price dropping, the weak pump...let scare people because the more you scare them the more they read the articles and generate profit to the media.
Price at pump is not a reason to be scared anymore, even if we hugely overpay at the end...that is why it is now omitted.
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